Wealth Preservation Advisors LLC Boosts Stake in Meta Platforms, Inc. $META

Wealth Preservation Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 60.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,632 shares of the social networking company’s stock after purchasing an additional 992 shares during the period. Meta Platforms makes up 0.9% of Wealth Preservation Advisors LLC’s investment portfolio, making the stock its 16th largest position. Wealth Preservation Advisors LLC’s holdings in Meta Platforms were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of META. Brighton Jones LLC increased its position in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd lifted its holdings in shares of Meta Platforms by 294.7% in the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $213,000. Finally, Capital & Planning LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $322,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Analyst Ratings Changes

META has been the subject of several research reports. UBS Group downgraded shares of Meta Platforms from a “buy” rating to a “neutral” rating in a report on Tuesday, June 2nd. Wall Street Zen cut Meta Platforms from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Roth Mkm restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, April 30th. Morgan Stanley dropped their price objective on Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, Sanford C. Bernstein cut their price objective on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $840.60.

View Our Latest Analysis on Meta Platforms

Insider Activity

In related news, Director Robert M. Kimmitt sold 504 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $317,162.16. Following the completion of the transaction, the director directly owned 3,943 shares of the company’s stock, valued at $2,481,290.47. The trade was a 11.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 140 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $600.00, for a total value of $84,000.00. Following the sale, the chief operating officer owned 12,846 shares in the company, valued at approximately $7,707,600. This trade represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 40,568 shares of company stock worth $25,057,365. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $577.22 on Friday. The company has a market cap of $1.46 trillion, a P/E ratio of 20.98, a PEG ratio of 1.02 and a beta of 1.23. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average price is $621.27 and its 200 day moving average price is $634.15.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, beating the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company posted $6.43 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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