Global Wealth Management Investment Advisory Inc. Purchases 429 Shares of Meta Platforms, Inc. (NASDAQ:META)

Global Wealth Management Investment Advisory Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,235 shares of the social networking company's stock after acquiring 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors raised its holdings in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Meta Platforms in the 4th quarter valued at about $19,949,512,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,792 shares of company stock valued at $105,466,325 over the last 90 days. Company insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays decreased their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Loop Capital raised their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. TD Cowen raised their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Jefferies Financial Group decreased their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $729.38.

Meta Platforms Stock Performance

NASDAQ:META traded down $9.73 during mid-day trading on Friday, hitting $717.51. 10,847,750 shares of the company traded hands, compared to its average volume of 14,488,680. The stock's fifty day moving average price is $672.36 and its 200-day moving average price is $633.41. Meta Platforms, Inc. has a one year low of $442.65 and a one year 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. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. Research 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 disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid 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 was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

About Meta Platforms

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.