Marion Wealth Management Has $3.88 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Marion Wealth Management cut its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,725 shares of the social networking company's stock after selling 1,397 shares during the quarter. Meta Platforms comprises about 1.0% of Marion Wealth Management's portfolio, making the stock its 25th biggest holding. Marion Wealth Management's holdings in Meta Platforms were worth $3,876,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Catalyst Private Wealth LLC boosted its stake in Meta Platforms by 6.9% in the 1st quarter. Catalyst Private Wealth LLC now owns 9,372 shares of the social networking company's stock valued at $5,402,000 after purchasing an additional 609 shares during the period. Rooted Wealth Advisors Inc. boosted its stake in Meta Platforms by 1.3% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 1,802 shares of the social networking company's stock valued at $1,039,000 after purchasing an additional 24 shares during the period. Beese Fulmer Investment Management Inc. boosted its stake in Meta Platforms by 1.1% in the 1st quarter. Beese Fulmer Investment Management Inc. now owns 35,029 shares of the social networking company's stock valued at $20,189,000 after purchasing an additional 377 shares during the period. Fulcrum Capital LLC bought a new stake in Meta Platforms in the 1st quarter valued at $328,000. Finally, James J. Burns & Company LLC boosted its stake in Meta Platforms by 9.4% in the 1st quarter. James J. Burns & Company LLC now owns 1,195 shares of the social networking company's stock valued at $689,000 after purchasing an additional 103 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on META shares. Guggenheim boosted their price target on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Piper Sandler upped their target price on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Moffett Nathanson upped their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wedbush upped their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Citigroup upped their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Price Performance

META traded down $2.82 on Friday, reaching $642.23. The stock had a trading volume of 16,230,863 shares, compared to its average volume of 14,482,228. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a 50-day moving average of $578.56 and a 200-day moving average of $611.04. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued 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 yield of 0.33%. Meta Platforms's payout ratio is presently 8.19%.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,664 shares of company stock valued at $35,484,670. Company insiders own 13.61% of the company's stock.

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.