Mascagni Wealth Management Inc. Makes New $1.99 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Mascagni Wealth Management Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,394 shares of the social networking company's stock, valued at approximately $1,987,000. Meta Platforms makes up about 1.7% of Mascagni Wealth Management Inc.'s portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms during the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the transaction, the insider now owns 27,498 shares of the company's stock, valued at approximately $13,525,441.26. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,664 shares of company stock worth $35,484,670. Company insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on META. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. UBS Group lifted their target price on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, DA Davidson reduced their price objective on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Stock Performance

NASDAQ:META traded down $2.82 during trading hours on Friday, hitting $642.23. 16,230,863 shares of the company were exchanged, compared to its average volume of 14,491,179. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. 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 $1.61 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24. The company's 50 day moving average price is $578.56 and its 200-day moving average price is $610.83.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the business posted $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 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.