Crown Wealth Group LLC Acquires 486 Shares of Meta Platforms, Inc. (NASDAQ:META)

Crown Wealth Group LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 19.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,988 shares of the social networking company’s stock after purchasing an additional 486 shares during the period. Meta Platforms makes up about 0.9% of Crown Wealth Group LLC’s portfolio, making the stock its 20th biggest position. Crown Wealth Group LLC’s holdings in Meta Platforms were worth $1,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Valley Financial Group Inc. grew its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its stake in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after acquiring an additional 14 shares in the last quarter. Maiden Cove Capital LLC grew its holdings in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the period. Riverwater Partners LLC increased its stake in Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after purchasing an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC raised its holdings in shares of Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock valued at $1,251,000 after purchasing an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares of the company’s stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares of the company’s stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,285 shares of company stock worth $105,518,153 in the last quarter. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Up 0.5%

Shares of NASDAQ META opened at $716.91 on Friday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The business has a 50-day simple moving average of $655.49 and a two-hundred day simple moving average of $629.14. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 trillion, a P/E ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Research analysts anticipate 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on META. Stifel Nicolaus raised their target price on Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. KeyCorp boosted their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. DA Davidson cut their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $719.29.

Meta Platforms Company 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.