Processus Wealth & Capital Management LLC Takes $1.48 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Processus Wealth & Capital Management LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,563 shares of the social networking company’s stock, valued at approximately $1,477,000. Meta Platforms accounts for about 1.3% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Meta Platforms during the 1st quarter worth approximately $28,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $45,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James Financial decreased their target price on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. Oppenheimer increased their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Benchmark decreased their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial increased their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Pivotal Research reduced their price target on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.38.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer owned 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,263 shares of company stock valued at $104,638,750 over the last quarter. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $720.92 on Tuesday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The firm has a fifty day simple moving average of $677.20 and a 200 day simple moving average of $635.41. The company has a market capitalization of $1.81 trillion, a PE ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the firm earned $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

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.