Sagace Wealth Management LLC Acquires 416 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sagace Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 104.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 816 shares of the social networking company's stock after purchasing an additional 416 shares during the period. Sagace Wealth Management LLC's holdings in Meta Platforms were worth $470,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its position in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its position in Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors increased its position in Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in Meta Platforms in the fourth quarter worth about $19,949,512,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,593 shares of company stock worth $56,008,477 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. DA Davidson reduced their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group raised 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. Citigroup restated a "buy" rating on shares of Meta Platforms in a report on Thursday. Finally, TD Securities reduced their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $706.88.

Meta Platforms Stock Up 2.8%

NASDAQ META traded up $19.25 during trading on Monday, hitting $702.12. The stock had a trading volume of 13,660,983 shares, compared to its average volume of 14,518,704. The company has a market capitalization of $1.77 trillion, a PE ratio of 29.35, a P/E/G ratio of 1.42 and a beta of 1.26. The company's 50-day moving average price is $607.90 and its two-hundred day moving average price is $620.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.71 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business 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 dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. 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.