White Wing Wealth Management Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

White Wing Wealth Management bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 544 shares of the social networking company's stock, valued at approximately $314,000. Meta Platforms comprises approximately 0.3% of White Wing Wealth Management's investment portfolio, making the stock its 19th biggest holding.

Several other large investors have also recently modified their holdings of META. Millstone Evans Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms during the 4th quarter valued at $47,000. Finally, Principia Wealth Advisory LLC boosted its holdings in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after acquiring an additional 30 shares during the period. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 1.9%

NASDAQ:META traded down $13.42 during mid-day trading on Friday, hitting $682.35. 22,498,010 shares of the company's stock traded hands, compared to its average volume of 14,546,632. The company has a fifty day moving average of $618.10 and a 200 day moving average of $623.08. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The company has a market capitalization of $1.72 trillion, a P/E ratio of 26.61, a P/E/G ratio of 1.71 and a beta of 1.26. 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 earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the company posted $4.71 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Scotiabank dropped their price objective on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a report on Monday, April 21st. TD Securities lowered their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus upped their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

Insider Activity

In other news, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total value of $1,025,052.06. Following the transaction, the chief executive officer now directly owns 139,538 shares of the company's stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,031 shares of company stock valued at $73,954,565. Company insiders own 13.61% of the company's stock.

About Meta Platforms

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.