Meta Platforms, Inc. (NASDAQ:META) Shares Bought by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,840 shares of the social networking company’s stock after buying an additional 1,624 shares during the period. Meta Platforms comprises about 1.2% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 13th largest holding. SeaCrest Wealth Management LLC’s holdings in Meta Platforms were worth $9,634,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. S.A. Mason LLC raised its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. LongView Wealth Management raised its position in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares during the period. Madison Wealth Partners Inc raised its position in Meta Platforms by 1.6% in the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the period. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of Meta Platforms by 1.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after acquiring an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. grew its stake in shares of Meta Platforms by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after acquiring an additional 24 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $509.96 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.29 trillion, a P/E ratio of 29.29, a PEG ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The company has a 50-day moving average price of $481.05 and a 200 day moving average price of $458.42.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date 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%.

Insider Activity

In other news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. In the last three months, insiders sold 252,395 shares of company stock worth $123,781,816. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Monday. Guggenheim dropped their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. UBS Group dropped their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.