Meta Platforms, Inc. (NASDAQ:META) is 1858 Wealth Management LLC’s 5th Largest Position

1858 Wealth Management LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,834 shares of the social networking company’s stock after selling 462 shares during the period. Meta Platforms accounts for 3.3% of 1858 Wealth Management LLC’s holdings, making the stock its 5th largest position. 1858 Wealth Management LLC’s holdings in Meta Platforms were worth $3,939,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,462 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now directly owns 6,230 shares in the company, valued at $3,507,676.90. The trade was a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,002 shares of company stock valued at $73,353,340. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 2.0%

NASDAQ META opened at $712.20 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm’s fifty day moving average price is $625.25 and its 200 day moving average price is $624.38. The company has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 EPS. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Morgan Stanley increased their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Evercore ISI increased their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $712.69.

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.