Surience Private Wealth LLC Acquires Shares of 4,154 Meta Platforms, Inc. (NASDAQ:META)

Surience Private Wealth LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,154 shares of the social networking company's stock, valued at approximately $2,394,000. Meta Platforms accounts for approximately 4.2% of Surience Private Wealth LLC's investment portfolio, making the stock its 11th largest holding.

A number of other large investors have also recently made changes to their positions in META. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the first quarter worth about $25,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. raised its stake in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after acquiring an additional 40 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the topic of several research reports. DA Davidson reduced their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Raymond James Financial cut their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Oppenheimer upped their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Five investment 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, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $719.29.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total value of $382,503.00. Following the completion of the transaction, the insider directly owned 27,626 shares of the company's stock, valued at approximately $20,360,362. This trade represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,285 shares of company stock valued at $105,518,153. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $3.34 on Thursday, reaching $716.91. 8,601,653 shares of the stock were exchanged, compared to its average volume of 14,572,054. The business has a 50 day moving average price of $651.82 and a two-hundred day moving average price of $628.50. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.75 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.

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.