MGO Private Wealth LLC Raises Position in Meta Platforms, Inc. (NASDAQ:META)

MGO Private Wealth LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 40.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 843 shares of the social networking company’s stock after purchasing an additional 242 shares during the period. MGO Private Wealth LLC’s holdings in Meta Platforms were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LifeGuide Financial Advisors LLC purchased a new stake in Meta Platforms during the first quarter valued at approximately $206,000. Little House Capital LLC raised its position in Meta Platforms by 79.2% during the first quarter. Little House Capital LLC now owns 14,786 shares of the social networking company’s stock valued at $7,180,000 after purchasing an additional 6,534 shares during the period. Kowal Investment Group LLC grew its stake in shares of Meta Platforms by 21.7% during the first quarter. Kowal Investment Group LLC now owns 3,995 shares of the social networking company’s stock valued at $1,940,000 after buying an additional 711 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Meta Platforms by 5.1% during the first quarter. Wolff Wiese Magana LLC now owns 1,349 shares of the social networking company’s stock valued at $655,000 after buying an additional 66 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of Meta Platforms by 6.1% during the first quarter. Diversified Trust Co now owns 57,567 shares of the social networking company’s stock valued at $27,953,000 after buying an additional 3,310 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $514.96, for a total transaction of $8,600,861.92. Following the completion of the transaction, the chief executive officer now owns 213,007 shares in the company, valued at approximately $109,690,084.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 218,086 shares of company stock worth $106,423,370 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $504.68 on Tuesday. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. 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 has a fifty day moving average of $480.46 and a 200 day moving average of $456.83. 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 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 company had revenue of $36.46 billion during 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, research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on META shares. Truist Financial cut their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Oppenheimer cut their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. UBS Group cut their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Sanford C. Bernstein cut their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Meta Platforms Company 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.