Masso Torrence Wealth Management Inc. Has $1.19 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Masso Torrence Wealth Management Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,061 shares of the social networking company's stock after purchasing an additional 460 shares during the period. Masso Torrence Wealth Management Inc.'s holdings in Meta Platforms were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Meta Platforms in the 4th quarter valued at $19,949,512,000. GAMMA Investing LLC increased its stake in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Meta Platforms during the 4th quarter worth about $2,243,603,000. Finally, Northern Trust Corp grew its holdings in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 8,312 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $702.13, for a total transaction of $5,836,104.56. Following the sale, the chief executive officer now directly owns 88,372 shares of the company's stock, valued at approximately $62,048,632.36. The trade was a 8.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $701.99, for a total transaction of $364,332.81. Following the completion of the transaction, the insider now directly owns 28,664 shares of the company's stock, valued at approximately $20,121,841.36. The trade was a 1.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,002 shares of company stock worth $73,353,340 over the last 90 days. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META stock traded up $14.23 during trading on Tuesday, hitting $712.76. The company had a trading volume of 10,464,649 shares, compared to its average volume of 14,494,722. The stock's 50-day moving average price is $621.44 and its 200 day moving average price is $623.76. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $1.79 trillion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26.

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, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm posted $4.71 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. KeyCorp upped their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Raymond James Financial dropped their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $712.69.

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.