Portside Wealth Group LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Portside Wealth Group LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,902 shares of the social networking company's stock after buying an additional 1,187 shares during the period. Meta Platforms comprises approximately 0.8% of Portside Wealth Group LLC's investment portfolio, making the stock its 25th biggest position. Portside Wealth Group LLC's holdings in Meta Platforms were worth $5,131,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of META. Millstone Evans Group LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $47,000. Finally, Principia Wealth Advisory LLC grew its stake in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the transaction, the chief operating officer now directly owns 7,446 shares in the company, valued at $4,523,445. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,104 shares of company stock valued at $35,270,242. Insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. The Goldman Sachs Group increased their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Evercore ISI raised their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Moffett Nathanson boosted their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Loop Capital increased their price target on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, KeyCorp lifted 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. One research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $702.48.

Meta Platforms Price Performance

META traded up $8.34 during trading on Tuesday, reaching $702.40. The stock had a trading volume of 10,572,177 shares, compared to its average volume of 14,509,543. The business has a 50-day moving average of $589.87 and a 200-day moving average of $616.49. 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 2.98 and a current ratio of 2.98. The stock has a market cap of $1.77 trillion, a PE ratio of 29.36, a PEG ratio of 1.42 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 for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company 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%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 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.