454 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Legacy Financial Group LLC

Legacy Financial Group LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 454 shares of the social networking company’s stock, valued at approximately $221,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC grew its position in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. Quest Partners LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.4 %

META opened at $494.78 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. The business has a 50 day simple moving average of $478.95 and a 200-day simple moving average of $446.29.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of several research analyst reports. Jefferies Financial Group lowered their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada decreased their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Oppenheimer decreased their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Truist Financial decreased their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Roth Mkm lifted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling

In other news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,169 shares of company stock valued at $153,344,736. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Profile

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.