Walter & Keenan Wealth Management LLC IN ADV Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,828 shares of the social networking company's stock after buying an additional 407 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV's holdings in Meta Platforms were worth $1,630,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC increased its stake in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after buying an additional 30 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Down 1.9%

Meta Platforms stock traded down $13.42 during midday trading on Friday, reaching $682.35. The company's stock had a trading volume of 22,498,010 shares, compared to its average volume of 14,512,174. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The business has a 50-day simple moving average of $618.10 and a 200-day simple moving average of $623.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company 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 earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced 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 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $699.27, for a total transaction of $361,522.59. Following the transaction, the chief operating officer now owns 8,887 shares of the company's stock, valued at $6,214,412.49. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the transaction, the insider now directly owns 28,664 shares in the company, valued at approximately $20,121,841.36. This represents a 1.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,031 shares of company stock worth $73,954,565. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on META shares. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada restated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Oppenheimer upped their price target on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. KeyCorp upped their price target on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $710.00.

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.