BigSur Wealth Management LLC Makes New $1.38 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

BigSur Wealth Management LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,400 shares of the social networking company's stock, valued at approximately $1,383,000.

Several other hedge funds have also recently modified their holdings of the business. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms in the fourth quarter worth about $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.00, for a total transaction of $363,819.00. Following the completion of the sale, the insider now owns 29,183 shares of the company's stock, valued at approximately $20,457,283. The trade was a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,593 shares of company stock worth $56,008,477. 13.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on META shares. KeyCorp raised their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. DA Davidson cut their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Oppenheimer upped their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Pivotal Research lowered their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Benchmark reduced their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $704.26.

Meta Platforms Trading Up 3.1%

NASDAQ:META traded up $20.98 during mid-day trading on Monday, hitting $703.33. 6,342,630 shares of the stock traded hands, compared to its average volume of 14,490,424. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.42 and a beta of 1.26. The firm's 50 day moving average is $604.07 and its two-hundred day moving average is $619.96.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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.