Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Waterfront Wealth Inc.

Waterfront Wealth Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 716 shares of the social networking company’s stock after purchasing an additional 46 shares during the period. Waterfront Wealth Inc.’s holdings in Meta Platforms were worth $413,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. Moffett Nathanson boosted their price target on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Evercore ISI boosted their price target on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Truist Financial boosted their price target on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $719.29.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total transaction of $383,081.49. Following the sale, the chief operating officer owned 7,853 shares in the company, valued at approximately $5,818,837.41. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock worth $105,518,153 over the last quarter. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $716.91 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company’s 50-day simple moving average is $655.49 and its 200-day simple moving average is $629.14. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.75 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter last year, the company posted $4.71 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

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.