Riverwater Partners LLC Acquires 314 Shares of Meta Platforms, Inc. (NASDAQ:META)

Riverwater Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 54.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886 shares of the social networking company’s stock after purchasing an additional 314 shares during the quarter. Riverwater Partners LLC’s holdings in Meta Platforms were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Valley Financial Group Inc. grew its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC grew its position in shares of Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after acquiring an additional 14 shares during the period. Meredith Wealth Planning grew its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC grew its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the period. Finally, ABLE Financial Group LLC grew its position in shares of Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock valued at $1,251,000 after acquiring an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $682.35 on Friday. The company has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.68 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm’s 50-day moving average is $618.10 and its 200 day moving average is $623.14. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.71 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s payout ratio is 8.19%.

Analysts Set New Price Targets

META has been the subject of a number of recent research reports. Loop Capital boosted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research report on Friday, May 16th. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $664.00 target price on shares of Meta Platforms in a report on Tuesday, June 17th. Piper Sandler upped their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $710.00.

Check Out Our Latest Stock Analysis on Meta Platforms

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the transaction, the insider now directly owns 27,498 shares in the company, valued at $13,525,441.26. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the transaction, the chief operating officer now owns 6,838 shares in the company, valued at $4,205,164.86. This represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,031 shares of company stock worth $73,954,565. Insiders own 13.61% of the company’s stock.

About Meta Platforms

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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