SMART Wealth LLC Has $1.56 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

SMART Wealth LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,703 shares of the social networking company's stock after selling 858 shares during the period. SMART Wealth LLC's holdings in Meta Platforms were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in META. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $325,000. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% during the fourth 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 during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Meta Platforms by 5.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after purchasing an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its holdings in shares of Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after purchasing an additional 7,587 shares during the period. Institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction on Monday, July 7th. The stock was sold at an average price of $717.51, for a total transaction of $370,952.67. Following the sale, the chief operating officer owned 7,336 shares in the company, valued at $5,263,653.36. This represents a 6.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,273 shares of company stock worth $105,091,830 over the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

META stock traded down $6.50 on Thursday, reaching $726.28. 4,965,383 shares of the company were exchanged, compared to its average volume of 14,468,944. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The stock's fifty day moving average price is $669.26 and its 200 day moving average price is $632.53. The firm has a market capitalization of $1.83 trillion, a PE ratio of 28.35, a PEG ratio of 1.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced 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 net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. DA Davidson decreased their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI raised their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Morgan Stanley raised their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $727.95.

Meta Platforms Company 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.