Worth Asset Management LLC Buys 2,233 Shares of Meta Platforms, Inc. (NASDAQ:META)

Worth Asset Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 273.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,051 shares of the social networking company's stock after purchasing an additional 2,233 shares during the quarter. Meta Platforms makes up 1.0% of Worth Asset Management LLC's portfolio, making the stock its 25th largest holding. Worth Asset Management LLC's holdings in Meta Platforms were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in META. Valley Financial Group Inc. boosted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after purchasing an additional 14 shares during the last quarter. Seelaus Asset Management LLC grew its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning grew its stake in Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares in the last quarter. Finally, Maiden Cove Capital LLC raised its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Down 0.6%

Shares of NASDAQ META traded down $4.05 during trading on Tuesday, reaching $666.85. The company had a trading volume of 11,568,347 shares, compared to its average volume of 14,475,841. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's 50-day moving average is $579.76 and its 200 day moving average is $612.10. The stock has a market cap of $1.68 trillion, a PE ratio of 27.88, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on META. Raymond James dropped their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Scotiabank reduced their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Finally, JMP Securities restated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. One investment 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Insider Buying and Selling at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the company's 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 completion of the sale, the chief technology officer now owns 16,463 shares in the company, valued at approximately $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the transaction, the chief operating officer now directly owns 8,054 shares in the company, valued at $4,904,886. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,135 shares of company stock worth $34,481,779. Company 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.