Iams Wealth Management LLC Has $1.38 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Iams Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 37.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,392 shares of the social networking company's stock after purchasing an additional 658 shares during the quarter. Iams Wealth Management LLC's holdings in Meta Platforms were worth $1,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of META. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP raised its stake in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $459,000. Apollon Financial LLC boosted its position in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock worth $866,000 after purchasing an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $644.93, for a total value of $333,428.81. Following the completion of the sale, the chief operating officer now owns 9,921 shares in the company, valued at $6,398,350.53. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, 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 55,652 shares of company stock valued at $34,815,208 over the last quarter. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Guggenheim boosted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Barclays dropped their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Loop Capital increased their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. One investment 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $702.48.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $3.33 during midday trading on Thursday, hitting $684.62. The company's stock had a trading volume of 13,062,206 shares, compared to its average volume of 14,510,826. The company has a market cap of $1.72 trillion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. 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. The business's 50 day simple moving average is $583.27 and its 200 day simple moving average is $613.00.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results 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. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. Meta Platforms's revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

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.