Firethorn Wealth Partners LLC Has $509,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Firethorn Wealth Partners LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,048 shares of the social networking company’s stock after acquiring an additional 130 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Meta Platforms were worth $509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its stake in shares of Meta Platforms by 625.0% during the 3rd 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. Beaird Harris Wealth Management LLC boosted its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. Quest Partners LLC bought a new stake in Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its stake in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares in the company, valued at $7,268,235.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the transaction, the insider now directly owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on META shares. Barclays reduced their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. The Goldman Sachs Group reduced their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Two investment 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Stock Down 3.0 %

Shares of Meta Platforms stock opened at $504.22 on Friday. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. 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 stock’s 50-day moving average is $480.00 and its 200 day moving average is $453.93. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The business 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%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is currently 11.49%.

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.