Massachusetts Wealth Management Has $387,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Massachusetts Wealth Management increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 796 shares of the social networking company’s stock after purchasing an additional 50 shares during the quarter. Massachusetts Wealth Management’s holdings in Meta Platforms were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in META. Kennedy Capital Management LLC increased its stake in Meta Platforms by 18.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 13,847 shares of the social networking company’s stock worth $4,157,000 after acquiring an additional 2,189 shares during the period. Ramirez Asset Management Inc. bought a new position in Meta Platforms during the 3rd quarter worth $2,110,000. Townsquare Capital LLC increased its stake in shares of Meta Platforms by 2.6% in the 3rd quarter. Townsquare Capital LLC now owns 95,302 shares of the social networking company’s stock valued at $28,611,000 after purchasing an additional 2,456 shares during the last quarter. Holderness Investments Co. increased its stake in shares of Meta Platforms by 3.2% in the 3rd quarter. Holderness Investments Co. now owns 4,892 shares of the social networking company’s stock valued at $1,469,000 after purchasing an additional 150 shares during the last quarter. Finally, Front Row Advisors LLC increased its stake in shares of Meta Platforms by 27.2% in the 3rd quarter. Front Row Advisors LLC now owns 351 shares of the social networking company’s stock valued at $105,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. TD Cowen decreased their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a research note on Monday, April 22nd. Jefferies Financial Group cut their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $511.27.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly 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. Over the last three months, insiders sold 251,905 shares of company stock worth $123,528,726. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META opened at $509.96 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $482.42 and a 200 day moving average of $458.78. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released 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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

About Meta Platforms

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.