Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 21.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,244 shares of the social networking company's stock after acquiring an additional 5,112 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Meta Platforms were worth $16,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fjell Capital LLC purchased a new stake in Meta Platforms in the fourth quarter worth $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $325,000. Daner Wealth Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter worth about $334,000. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Meta Platforms in the fourth quarter worth approximately $112,406,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $13.42 during midday trading on Friday, reaching $682.35. The company's stock had a trading volume of 22,498,010 shares, compared to its average volume of 14,512,174. The stock has a fifty day moving average of $618.10 and a 200 day moving average of $623.14. The firm has a market capitalization of $1.72 trillion, a PE ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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 for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business posted $4.71 EPS. Meta Platforms's revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,031 shares of company stock worth $73,954,565. 13.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Loop Capital upped their price target on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company restated an "overweight" rating and issued a $664.00 price objective on shares of Meta Platforms in a report on Tuesday. DA Davidson decreased their target price on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $710.00.

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.