Livet Wealth LLC Purchases Shares of 919 Meta Platforms, Inc. $META

Livet Wealth LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 919 shares of the social networking company’s stock, valued at approximately $607,000.

Other large investors have also made changes to their positions in the company. Westchester Capital Management Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $26,000. RHL Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $29,000. Key Capital Management INC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $48,000. Finally, Entrust Financial LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $48,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on META. BNP Paribas Exane began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “outperform” rating on the stock. Arete Research set a $735.00 price objective on Meta Platforms and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Susquehanna raised Meta Platforms from a “positive” rating to a “positive” rating in a research report on Tuesday, June 2nd. Guggenheim lowered their price objective on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Piper Sandler began coverage on Meta Platforms in a research report on Tuesday, June 2nd. They set an “overweight” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $840.60.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 7,847 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $607.83, for a total value of $4,769,642.01. Following the transaction, the chief technology officer directly owned 414 shares of the company’s stock, valued at approximately $251,641.62. The trade was a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares in the company, valued at approximately $6,645,103.65. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,305 shares of company stock valued at $25,567,928 in the last 90 days. 13.53% of the stock is currently owned by company insiders.

Trending Headlines about Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Meta Platforms Stock Down 0.3%

NASDAQ META opened at $566.98 on Friday. The stock’s 50 day moving average is $621.15 and its 200 day moving average is $635.89. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The stock has a market cap of $1.43 trillion, a PE ratio of 20.61, a P/E/G ratio of 1.01 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The company had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. During the same period in the previous year, the firm earned $6.43 EPS. The firm’s revenue was up 33.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s payout ratio is currently 7.63%.

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.