Wolff Wiese Magana LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Wolff Wiese Magana LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,349 shares of the social networking company’s stock after acquiring an additional 66 shares during the period. Wolff Wiese Magana LLC’s holdings in Meta Platforms were worth $655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC lifted its position in shares of Meta Platforms by 68.9% during the 3rd 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 in the last quarter. Quest Partners LLC purchased a new position in Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC lifted its holdings 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 in the last quarter. Cranbrook Wealth Management LLC lifted its holdings 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 in the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $504.68 on Tuesday. The stock has a 50-day simple moving average of $480.46 and a 200-day simple moving average of $456.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.28 trillion, a PE ratio of 28.99, a PEG ratio of 1.31 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 announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, analysts predict 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 was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 213,007 shares in the company, valued at $109,690,084.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the completion of the sale, the chief executive officer now owns 213,007 shares in the company, valued at $109,690,084.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The disclosure for this sale can be found here. Insiders sold a total of 218,086 shares of company stock worth $106,423,370 over the last 90 days. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group decreased their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Barclays reduced their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $511.27.

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.