Soundmark Wealth Management LLC Invests $220,000 in Meta Platforms, Inc. (NASDAQ:META)

Soundmark Wealth Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 452 shares of the social networking company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Madison Wealth Partners Inc boosted its position in Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after acquiring an additional 23 shares during the period. Monterey Private Wealth Inc. raised its stake in shares of Meta Platforms by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after purchasing an additional 24 shares in the last quarter. Grandview Asset Management LLC lifted its holdings in Meta Platforms by 0.3% in the first quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock worth $4,151,000 after purchasing an additional 24 shares during the period. Addison Advisors LLC grew its position in Meta Platforms by 3.9% in the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares in the last quarter. Finally, Smithfield Trust Co increased its stake in Meta Platforms by 0.5% during the 4th quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock valued at $1,730,000 after buying an additional 25 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META stock opened at $494.78 on Friday. The company has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. The firm has a 50 day moving average of $478.61 and a two-hundred day moving average of $447.50. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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 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 of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Wedbush cut their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Canaccord Genuity Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James raised their target price on Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research note on Wednesday, June 5th. Two research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling

In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $505.75, for a total value of $208,369.00. Following the transaction, the chief operating officer now owns 8,031 shares of the company’s stock, valued at $4,061,678.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $504.82, for a total transaction of $39,079,125.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the sale, the chief operating officer now owns 8,031 shares of the company’s stock, valued at approximately $4,061,678.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,169 shares of company stock worth $153,344,736. 13.71% of the stock is currently owned by insiders.

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.