Jackson Wealth Management LLC Invests $599,000 in Meta Platforms, Inc. (NASDAQ:META)

Jackson Wealth Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,233 shares of the social networking company’s stock, valued at approximately $599,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors increased its holdings in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital International Investors increased its holdings in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Capital Research Global Investors increased its holdings in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank purchased a new position in Meta Platforms during the 4th quarter worth $11,285,855,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday. Roth Mkm increased their target price on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Rosenblatt Securities increased their target price on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays increased their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $571.84.

Insiders Place Their Bets

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the transaction, the chief operating officer now owns 5,559 shares in the company, valued at $2,573,817. The disclosure for this sale can be found here. In the last three months, insiders sold 310,685 shares of company stock worth $154,398,206. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $9.60 on Friday, hitting $488.14. The company’s stock had a trading volume of 24,044,658 shares, compared to its average volume of 17,151,374. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The firm has a fifty day moving average price of $494.09 and a 200-day moving average price of $479.09. The company has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.41%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.