Precision Wealth Strategies LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Precision Wealth Strategies LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,910 shares of the social networking company’s stock after acquiring an additional 830 shares during the period. Meta Platforms accounts for approximately 3.0% of Precision Wealth Strategies LLC’s holdings, making the stock its 10th largest position. Precision Wealth Strategies LLC’s holdings in Meta Platforms were worth $3,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $19,949,512,000. GAMMA Investing LLC grew its stake in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Meta Platforms during the fourth quarter worth $2,243,603,000. Finally, Northern Trust Corp lifted its stake in Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now owns 31,182 shares of the company’s stock, valued at approximately $19,552,673.10. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,672 shares of company stock valued at $55,455,647 in the last quarter. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $697.23 on Wednesday. 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 capitalization of $1.75 trillion, a PE ratio of 27.19, a P/E/G ratio of 1.73 and a beta of 1.26. The firm has a fifty day simple moving average of $610.13 and a 200 day simple moving average of $621.38. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last announced 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 return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on META. Citigroup restated a “buy” rating on shares of Meta Platforms in a research note on Thursday, June 12th. TD Securities lowered their price target on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $676.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 11th. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Morgan Stanley increased their price target on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $706.88.

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.