Tyche Wealth Partners LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Tyche Wealth Partners LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,069 shares of the social networking company's stock after purchasing an additional 351 shares during the quarter. Tyche Wealth Partners LLC's holdings in Meta Platforms were worth $2,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new position in Meta Platforms in the first quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $45,000. Finally, JCIC Asset Management Inc. boosted its stake in Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after acquiring an additional 40 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research analyst reports. Bank of America boosted their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Wedbush boosted their price target 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. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group reissued a "buy" rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a research report on Thursday. Finally, KeyCorp boosted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $719.52.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $733.63 on Friday. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a fifty day moving average of $638.51 and a 200-day moving average of $626.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 EPS. The firm's revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 70,040 shares of the company's stock, valued at $46,181,574.40. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 406 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,831 shares of company stock valued at $83,868,872. Corporate insiders own 13.61% of the company's stock.

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.

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