Elyxium Wealth LLC Has $2.86 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Elyxium Wealth LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 258.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,961 shares of the social networking company's stock after purchasing an additional 3,577 shares during the period. Meta Platforms accounts for 1.3% of Elyxium Wealth LLC's investment portfolio, making the stock its 20th biggest position. Elyxium Wealth LLC's holdings in Meta Platforms were worth $2,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. Inlight Wealth Management LLC acquired a new stake in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. grew its holdings in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their price target on Meta Platforms from $807.00 to $828.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Pivotal Research reduced their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their price objective on Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their target price on Meta Platforms from $650.00 to $750.00 and gave the company an "overweight" rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $752.33.

Meta Platforms Trading Down 0.3%

NASDAQ:META traded down $2.12 during mid-day trading on Friday, reaching $712.68. The company's stock had a trading volume of 8,253,539 shares, compared to its average volume of 15,454,932. The stock has a market cap of $1.79 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $450.80 and a twelve month high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company's fifty day simple moving average is $691.04 and its two-hundred day simple moving average is $640.92.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 EPS. On average, equities analysts predict 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 was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,473 shares of company stock worth $105,805,440. 13.61% of the stock is owned by company insiders.

Meta Platforms 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.