LongView Wealth Management Buys 22 Shares of Meta Platforms, Inc. (NASDAQ:META)

LongView Wealth Management raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,762 shares of the social networking company’s stock after acquiring an additional 22 shares during the quarter. LongView Wealth Management’s holdings in Meta Platforms were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Register Financial Advisors LLC grew its position in shares of Meta Platforms by 4.0% during the 1st quarter. Register Financial Advisors LLC now owns 907 shares of the social networking company’s stock valued at $440,000 after purchasing an additional 35 shares in the last quarter. Indiana Trust & Investment Management CO grew its position in Meta Platforms by 27.4% in the first quarter. Indiana Trust & Investment Management CO now owns 8,045 shares of the social networking company’s stock worth $3,906,000 after acquiring an additional 1,731 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Meta Platforms by 29.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,159 shares of the social networking company’s stock worth $4,933,000 after acquiring an additional 2,307 shares in the last quarter. Buckley Wealth Management LLC purchased a new position in Meta Platforms in the first quarter worth $201,000. Finally, Cypress Wealth Services LLC grew its position in Meta Platforms by 2.1% in the first quarter. Cypress Wealth Services LLC now owns 4,137 shares of the social networking company’s stock worth $2,009,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 3.0 %

Shares of NASDAQ:META traded down $15.34 during trading on Friday, reaching $504.22. 15,757,171 shares of the stock traded hands, compared to its average volume of 16,444,535. The stock has a 50-day moving average of $479.53 and a two-hundred day moving average of $452.69. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.28 trillion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the sale, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 31,465 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $491.49, for a total value of $15,464,732.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $486.75, for a total transaction of $238,507.50. Following the completion of the transaction, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on META. Wolfe Research cut their target price on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Rosenblatt Securities upped their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Canaccord Genuity Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, TD Cowen cut their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

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.