Whalen Wealth Management Inc. Has $2.64 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Whalen Wealth Management Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,588 shares of the social networking company's stock after selling 1,060 shares during the period. Meta Platforms makes up about 1.8% of Whalen Wealth Management Inc.'s holdings, making the stock its 15th biggest holding. Whalen Wealth Management Inc.'s holdings in Meta Platforms were worth $2,644,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Suvretta Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth about $459,000. Kovitz Investment Group Partners LLC boosted its position in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after buying an additional 1,229,350 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after buying an additional 110,040 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.52 during midday trading on Wednesday, hitting $708.68. 9,278,251 shares of the company's stock were exchanged, compared to its average volume of 16,217,372. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market cap of $1.78 trillion, a P/E ratio of 27.64, a PEG ratio of 1.72 and a beta of 1.26. The stock's 50 day moving average price is $625.25 and its 200-day moving average price is $624.38. 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, 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 firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 1,462 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the transaction, the chief executive officer now owns 139,538 shares in the company, valued at $97,834,277.94. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,002 shares of company stock valued at $73,353,340 in the last quarter. Insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Oppenheimer upped their price target on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Pivotal Research dropped their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Evercore ISI boosted their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $712.69.

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.