Iams Wealth Management LLC Buys 1,188 Shares of Meta Platforms, Inc. (NASDAQ:META)

Iams Wealth Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 135.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,062 shares of the social networking company’s stock after purchasing an additional 1,188 shares during the period. Iams Wealth Management LLC’s holdings in Meta Platforms were worth $998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in Meta Platforms in the 4th quarter worth $11,285,855,000. International Assets Investment Management LLC raised its stake in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the period. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management boosted its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’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 sale, 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 legal filing with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction 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 directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The disclosure for this sale can be found here. Insiders have sold a total of 218,086 shares of company stock valued at $106,423,370 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on META. Citigroup cut their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. BNP Paribas assumed coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Guggenheim decreased their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Royal Bank of Canada decreased their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Meta Platforms Stock Performance

META opened at $509.50 on Wednesday. The company has a current ratio of 2.68, a quick 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. The firm has a 50 day moving average of $480.72 and a two-hundred day moving average of $458.05. The firm has a market capitalization of $1.29 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.31 and a beta of 1.21.

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 the consensus estimate 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. On average, analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders 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 dividend yield of 0.39%. Meta Platforms’s payout ratio is 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.