Mascagni Wealth Management Inc. Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Mascagni Wealth Management Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,394 shares of the social networking company's stock, valued at approximately $1,987,000. Meta Platforms comprises about 1.7% of Mascagni Wealth Management Inc.'s investment portfolio, making the stock its 10th biggest holding.

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

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at $5,837,841.52. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the transaction, the insider now directly owns 30,740 shares in the company, valued at $19,535,270. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,628 shares of company stock valued at $34,826,386. 13.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Scotiabank decreased their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. DA Davidson cut their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Roth Capital upped their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Evercore ISI upped their target price on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Trading Up 0.2%

Meta Platforms stock traded up $1.47 during mid-day trading on Thursday, hitting $645.05. The stock had a trading volume of 8,853,767 shares, compared to its average volume of 14,469,198. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market capitalization of $1.62 trillion, a PE ratio of 26.97, a P/E/G ratio of 1.42 and a beta of 1.24. The stock has a 50-day simple moving average of $577.74 and a two-hundred day simple moving average of $610.01.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.71 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.33%. Meta Platforms's dividend payout ratio is currently 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.