Solidarity Wealth LLC Has $7.07 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Solidarity Wealth LLC increased its stake in Meta Platforms by 5.0%, now holding $7.07 million in stock, making it the firm’s 20th largest investment.
• Insiders, including CEO Mark Zuckerberg and CFO Susan J. Li, sold significant amounts of stock recently, reducing their ownership by 10.44% and 8.94%, respectively, totaling over $105 million in sales over the past three months.
• Multiple analysts have raised their target prices for Meta Platforms, with the average now at $820.32 and a consensus rating of "Moderate Buy".

Solidarity Wealth LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,266 shares of the social networking company's stock after purchasing an additional 581 shares during the period. Meta Platforms makes up 1.7% of Solidarity Wealth LLC's investment portfolio, making the stock its 20th biggest holding. Solidarity Wealth LLC's holdings in Meta Platforms were worth $7,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Lazard Freres Gestion S.A.S. raised its holdings in shares of Meta Platforms by 20.8% in the 1st quarter. Lazard Freres Gestion S.A.S. now owns 151,895 shares of the social networking company's stock worth $87,546,000 after acquiring an additional 26,121 shares during the last quarter. AWM Capital LLC increased its stake in Meta Platforms by 17.9% in the 1st quarter. AWM Capital LLC now owns 467 shares of the social networking company's stock valued at $269,000 after buying an additional 71 shares during the last quarter. Purkiss Capital Advisors LLC increased its stake in Meta Platforms by 15.2% in the 1st quarter. Purkiss Capital Advisors LLC now owns 802 shares of the social networking company's stock valued at $462,000 after buying an additional 106 shares during the last quarter. Atlas Legacy Advisors LLC increased its stake in Meta Platforms by 6.7% in the 1st quarter. Atlas Legacy Advisors LLC now owns 2,371 shares of the social networking company's stock valued at $1,367,000 after buying an additional 149 shares during the last quarter. Finally, Facet Wealth Inc. increased its stake in Meta Platforms by 1.8% in the 1st quarter. Facet Wealth Inc. now owns 11,718 shares of the social networking company's stock valued at $7,022,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer directly owned 70,040 shares of the company's stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,980 shares of company stock valued at $105,708,832 over the last three months. Insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Meta Platforms from $783.00 to $811.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group increased their target price on shares of Meta Platforms from $812.00 to $897.00 and gave the company a "buy" rating in a research report on Thursday. Cantor Fitzgerald raised their price objective on shares of Meta Platforms from $828.00 to $920.00 and gave the stock an "overweight" rating in a report on Thursday. TD Cowen raised their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Citizens Jmp raised their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $820.32.

Meta Platforms Trading Down 3.0%

Shares of NASDAQ META opened at $750.01 on Friday. The firm's 50 day moving average price is $701.68 and its 200-day moving average price is $645.68. The company has a market cap of $1.89 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.84 and a beta of 1.27. Meta Platforms, Inc. has a 52-week low of $450.80 and a 52-week high of $784.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same period in the previous year, the company earned $5.16 earnings per share. The firm's quarterly revenue was up 21.6% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal 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 issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

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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