Astra Wealth Partners LLC Has $533,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Astra Wealth Partners LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 924 shares of the social networking company’s stock after acquiring an additional 98 shares during the period. Astra Wealth Partners LLC’s holdings in Meta Platforms were worth $533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the first quarter worth $28,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the fourth quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms during the fourth quarter valued at $45,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $4,532,440.64. Following the sale, the chief financial officer directly owned 70,040 shares in the company, 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. Over the last quarter, insiders have sold 152,263 shares of company stock worth $104,638,750. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $720.92 on Tuesday. The stock has a market cap of $1.81 trillion, a PE ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.28. The company’s fifty day moving average is $677.20 and its 200 day moving average is $635.41. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. 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 released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the previous year, the company earned $4.71 earnings per share. The company’s revenue for the quarter 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 year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were 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 was Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on META. Moffett Nathanson upped their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. KeyCorp increased their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Raymond James Financial decreased their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 1st. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, DA Davidson reduced their target price on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $729.38.

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.