Wick Capital Partners LLC Has $302,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Wick Capital Partners LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 598 shares of the social networking company’s stock after acquiring an additional 50 shares during the quarter. Wick Capital Partners LLC’s holdings in Meta Platforms were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of META. Quest Partners LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Bank of America increased their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $578.92.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the completion of the transaction, the chief executive officer now owns 186,826 shares of the company’s stock, valued at approximately $95,113,116.60. The disclosure for this sale can be found here. Insiders sold 359,060 shares of company stock worth $188,031,963 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $568.31 on Thursday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $576.88. The firm has a 50 day moving average of $512.54 and a 200-day moving average of $498.54. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date is Monday, September 16th. 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.