Impact Partnership Wealth LLC Has $941,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Impact Partnership Wealth LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,632 shares of the social networking company's stock after selling 538 shares during the quarter. Impact Partnership Wealth LLC's holdings in Meta Platforms were worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of META. Brogan Financial Inc. bought a new position in Meta Platforms in the first quarter worth $249,000. Resurgent Financial Advisors LLC lifted its position in Meta Platforms by 11.3% in the first quarter. Resurgent Financial Advisors LLC now owns 1,546 shares of the social networking company's stock worth $891,000 after purchasing an additional 157 shares during the period. PCG Wealth Advisors LLC bought a new position in Meta Platforms in the first quarter worth $223,000. Birinyi Associates Inc. lifted its position in Meta Platforms by 10.1% in the first quarter. Birinyi Associates Inc. now owns 1,640 shares of the social networking company's stock worth $945,000 after purchasing an additional 150 shares during the period. Finally, Foundry Partners LLC lifted its position in Meta Platforms by 5.3% in the first quarter. Foundry Partners LLC now owns 1,480 shares of the social networking company's stock worth $853,000 after purchasing an additional 75 shares during the period. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on META. Loop Capital raised their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Bank of America raised their target price on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $808.00 target price (up from $650.00) on shares of Meta Platforms in a research report on Friday, June 27th. JMP Securities reiterated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group increased their price objective on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and an average price target of $752.33.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction that occurred on 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 SEC, which is accessible through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director directly owned 9,342 shares in the company, valued at $6,755,013.36. This trade represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,473 shares of company stock worth $105,805,440. 13.61% of the stock is currently owned by insiders.

Meta Platforms Stock Down 0.3%

NASDAQ META traded down $2.12 during trading on Friday, hitting $712.68. The stock had a trading volume of 8,253,539 shares, compared to its average volume of 10,556,341. The company has a market capitalization of $1.79 trillion, a PE ratio of 27.80, a P/E/G ratio of 1.71 and a beta of 1.28. The company's 50-day moving average price is $692.48 and its two-hundred day moving average price is $641.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $747.90.

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 the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.71 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is 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.