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Vista Cima Wealth Management LLC Purchases 1,195 Shares of Meta Platforms, Inc. $META

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Key Points

  • Vista Cima Wealth Management boosted its Meta Platforms stake by 157.4% in the fourth quarter, buying 1,195 additional shares and bringing its total to 1,954 shares worth about $1.29 million.
  • Wall Street sentiment on Meta remains broadly positive, with analysts maintaining a Moderate Buy consensus and an average price target of $840.60 despite some recent target cuts.
  • Meta continues to show strong operating momentum, reporting quarterly EPS of $10.44 and revenue of $56.31 billion, while also announcing a quarterly dividend of $0.525 per share.
  • Five stocks we like better than Meta Platforms.

Vista Cima Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 157.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,954 shares of the social networking company's stock after acquiring an additional 1,195 shares during the quarter. Meta Platforms comprises approximately 1.1% of Vista Cima Wealth Management LLC's investment portfolio, making the stock its 22nd biggest holding. Vista Cima Wealth Management LLC's holdings in Meta Platforms were worth $1,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westchester Capital Management Inc. bought a new position in Meta Platforms during the 3rd quarter worth approximately $26,000. RHL Group LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $29,000. Key Capital Management INC bought a new position in Meta Platforms during the 4th quarter worth approximately $48,000. Finally, Entrust Financial LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $48,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on META. Tigress Financial lifted their price objective on shares of Meta Platforms from $935.00 to $945.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, March 18th. TD Cowen reduced their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Guggenheim reduced their price objective on shares of Meta Platforms from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Weiss Ratings restated a "buy (b)" rating on shares of Meta Platforms in a report on Friday, March 27th. Finally, Roth Mkm restated a "buy" rating on shares of Meta Platforms in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $840.60.

Read Our Latest Stock Analysis on Meta Platforms

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 9,195 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.84, for a total value of $5,589,088.80. Following the completion of the transaction, the chief financial officer owned 13,186 shares of the company's stock, valued at approximately $8,014,978.24. This trade represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 2,778 shares of the firm's stock in a transaction on Monday, April 13th. The shares were sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares of the company's stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,305 shares of company stock worth $25,567,928 in the last three months. 13.53% of the stock is currently owned by company insiders.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Performance

Shares of META stock opened at $570.98 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $1.44 trillion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.04 and a beta of 1.23. The company's 50 day moving average price is $621.46 and its two-hundred day moving average price is $636.55. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business's quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the company posted $6.43 EPS. On average, analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms's dividend payout ratio (DPR) is 7.63%.

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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