Perfromance Wealth Partners LLC Acquires 9,893 Shares of Meta Platforms, Inc. (NASDAQ:META)

Perfromance Wealth Partners LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,318 shares of the social networking company's stock after purchasing an additional 9,893 shares during the quarter. Meta Platforms comprises approximately 1.4% of Perfromance Wealth Partners LLC's holdings, making the stock its 12th largest position. Perfromance Wealth Partners LLC's holdings in Meta Platforms were worth $39,952,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its position in Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after acquiring an additional 30 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,753 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $700.43, for a total value of $1,928,283.79. Following the transaction, the chief executive officer now directly owns 85,619 shares in the company, valued at $59,970,116.17. This represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total transaction of $364,332.81. Following the completion of the transaction, the insider now owns 28,664 shares in the company, valued at $20,121,841.36. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,423 shares of company stock worth $73,580,663. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Down 1.9%

META opened at $682.35 on Monday. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The stock's 50 day moving average price is $618.10 and its 200-day moving average price is $623.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.71 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. KeyCorp increased their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Evercore ISI lifted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Raymond James Financial reduced their price target on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $710.00.

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.

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