Jackson Wealth Management LLC Has $6.85 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Jackson Wealth Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,879 shares of the social networking company's stock after selling 614 shares during the period. Jackson Wealth Management LLC's holdings in Meta Platforms were worth $6,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. SwitchPoint Financial Planning LLC boosted its position in Meta Platforms by 5.8% during the first quarter. SwitchPoint Financial Planning LLC now owns 381 shares of the social networking company's stock valued at $220,000 after purchasing an additional 21 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in Meta Platforms by 9.7% during the first quarter. McGlone Suttner Wealth Management Inc. now owns 4,118 shares of the social networking company's stock valued at $2,374,000 after buying an additional 363 shares in the last quarter. Compass Wealth Management LLC raised its holdings in Meta Platforms by 8.0% during the first quarter. Compass Wealth Management LLC now owns 270 shares of the social networking company's stock valued at $156,000 after buying an additional 20 shares in the last quarter. Sierra Ocean LLC raised its holdings in Meta Platforms by 3.2% during the first quarter. Sierra Ocean LLC now owns 1,141 shares of the social networking company's stock valued at $658,000 after buying an additional 35 shares in the last quarter. Finally, Bolthouse Investments LLC raised its holdings in Meta Platforms by 18.8% during the first quarter. Bolthouse Investments LLC now owns 1,007 shares of the social networking company's stock valued at $580,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on META shares. Raymond James Financial cut their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Oppenheimer raised their target price on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Barclays cut their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $727.95.

Meta Platforms Trading Down 0.8%

META stock opened at $727.24 on Friday. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The firm has a market cap of $1.83 trillion, a P/E ratio of 28.36, a P/E/G ratio of 1.80 and a beta of 1.28. The business's 50 day moving average is $672.36 and its 200-day moving average is $633.41. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the company posted $4.71 EPS. The company's revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity

In other news, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the sale, the insider directly owned 27,107 shares in the company, valued at approximately $19,559,597.99. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $1,691,609.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,792 shares of company stock worth $105,466,325. Company insiders own 13.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.