Precision Wealth Strategies LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Precision Wealth Strategies LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,910 shares of the social networking company's stock after buying an additional 830 shares during the quarter. Meta Platforms makes up approximately 3.0% of Precision Wealth Strategies LLC's holdings, making the stock its 10th largest holding. Precision Wealth Strategies LLC's holdings in Meta Platforms were worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of META. Valley Financial Group Inc. increased its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its stake in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the period. Meredith Wealth Planning grew its position in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its position in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the last quarter. Finally, Riverwater Partners LLC increased its stake in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $1.46 during trading on Thursday, reaching $695.77. The company's stock had a trading volume of 9,635,650 shares, compared to its average volume of 14,501,973. 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. The firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The business's fifty day moving average price is $612.33 and its 200-day moving average price is $621.89.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $41.45 billion. During the same period in the previous year, the business posted $4.71 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's payout ratio is 8.19%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Rosenblatt Securities boosted their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. DA Davidson lowered their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Bank of America boosted their target price on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. One equities research 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 currently has an average rating of "Moderate Buy" and an average target price of $710.00.

Insider Activity

In related news, COO Javier Olivan sold 517 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $699.27, for a total value of $361,522.59. Following the completion of the transaction, the chief operating officer now directly owns 8,887 shares in the company, valued at approximately $6,214,412.49. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 1,462 shares of Meta Platforms stock in a transaction on Friday, June 6th. The stock was sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the sale, the chief executive officer now owns 139,538 shares in the company, valued at $97,834,277.94. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,512 shares of company stock valued at $73,590,232. Insiders own 13.61% of the company's stock.

About Meta Platforms

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.