Global Wealth Management Investment Advisory Inc. Raises Stake in Meta Platforms, Inc. (NASDAQ:META)

Global Wealth Management Investment Advisory Inc. grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,235 shares of the social networking company's stock after purchasing an additional 429 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Meta Platforms were worth $3,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter worth about $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,792 shares of company stock valued at $105,466,325 in the last ninety days. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Down 0.8%

Shares of META traded down $5.54 during midday trading on Thursday, reaching $727.24. The stock had a trading volume of 9,905,148 shares, compared to its average volume of 14,503,230. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The company's fifty day simple moving average is $672.36 and its two-hundred day simple moving average is $633.41. The company has a market cap of $1.83 trillion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last posted 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. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday. Cantor Fitzgerald upped their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a report on Wednesday, June 18th. DA Davidson decreased their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wedbush upped their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Robert W. Baird upped their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $727.95.

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.