Legacy Financial Strategies LLC Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Legacy Financial Strategies LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,361 shares of the social networking company’s stock after purchasing an additional 71 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Meta Platforms were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Stone House Investment Management LLC raised its stake 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 valued at $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC raised its stake in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC raised its stake 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 valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $4,223,529.35. Following the transaction, the chief financial officer now owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders have sold 313,169 shares of company stock valued at $153,344,736 over the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. Wedbush decreased their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Stifel Nicolaus increased their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup reduced their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Stock Performance

Shares of NASDAQ: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. The business’s 50 day moving average price is $478.95 and its 200-day moving average price is $446.29. The firm has a market capitalization of $1.26 trillion, a PE ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49.

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

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.