Resolute Wealth Strategies LLC Has $973,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Resolute Wealth Strategies LLC increased its holdings in Meta Platforms, Inc. by 83.9% during Q1, bringing its total to 1,688 shares valued at approximately $973,000.
• Meta's CEO Mark Zuckerberg sold 13,793 shares for over $9.6 million, resulting in a 10.44% decrease in his ownership of the stock.
• Meta recently reported a 21.6% year-over-year revenue increase, posting $7.14 earnings per share for Q2, significantly exceeding analyst expectations.

Resolute Wealth Strategies LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 83.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,688 shares of the social networking company's stock after purchasing an additional 770 shares during the quarter. Resolute Wealth Strategies LLC's holdings in Meta Platforms were worth $973,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after buying an additional 1,049,121 shares in the last quarter. Capital World Investors raised its stake in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after buying an additional 1,141,355 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Northern Trust Corp increased its stake in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Meta Platforms by 2.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock valued at $7,030,399,000 after purchasing an additional 280,357 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group raised their price objective on Meta Platforms from $812.00 to $897.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird raised their price objective on Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Monness Crespi & Hardt raised their price objective on Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank Of Canada raised their price objective on Meta Platforms from $740.00 to $840.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Loop Capital raised their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Four research analysts have rated the stock with a hold rating, forty have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $815.09.

Meta Platforms Stock Performance

META traded down $23.43 during trading hours on Friday, hitting $750.01. The company's stock had a trading volume of 18,985,910 shares, compared to its average volume of 12,087,110. Meta Platforms, Inc. has a fifty-two week low of $450.80 and a fifty-two week high of $784.75. The company has a current ratio of 1.97, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.89 trillion, a PE ratio of 27.15, a PEG ratio of 1.84 and a beta of 1.27. The company has a 50-day simple moving average of $701.68 and a 200 day simple moving average of $645.68.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm's quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $715.00, for a total transaction of $369,655.00. Following the completion of the sale, the chief operating officer directly owned 5,785 shares of the company's stock, valued at $4,136,275. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director owned 9,342 shares of the company's stock, valued at $6,755,013.36. The trade was a 4.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,980 shares of company stock valued at $105,708,832. 13.61% of the stock is owned by 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.