Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by WealthShield Partners LLC

Key Points

• WealthShield Partners LLC increased its holdings in Meta Platforms, Inc. by 11.3%, acquiring an additional 1,053 shares, bringing its total to 10,367 shares valued at approximately $5.98 million.
• Insider selling activity saw CEO Mark Zuckerberg sell 15,847 shares for over $12 million and insider Jennifer Newstead sell 515 shares, indicating significant insider movements amid the company’s stock performance.
• Analysts are optimistic about Meta's future, with several firms raising their price targets significantly, including JMP Securities, which increased their target from $750 to $900, reflecting a consensus average target price of $822.41.

WealthShield Partners LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,367 shares of the social networking company's stock after purchasing an additional 1,053 shares during the period. WealthShield Partners LLC's holdings in Meta Platforms were worth $5,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. raised its position in Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other news, insider Christopher K. Cox sold 60,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total value of $46,557,000.00. Following the transaction, the insider owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,263 shares of company stock worth $211,724,057. 13.61% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $3.43 during trading on Monday, reaching $765.87. The company's stock had a trading volume of 7,597,659 shares, compared to its average volume of 15,441,953. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $714.53 and a 200-day moving average price of $651.30. The company has a market capitalization of $1.92 trillion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same quarter in the previous year, the business posted $5.16 earnings per share. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is presently 7.60%.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Moffett Nathanson raised their price target on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Evercore ISI upped their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley boosted their price objective on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. DA Davidson boosted their price target on Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $822.41.

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.