Worth Financial Advisory Group LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Worth Financial Advisory Group LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 19.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,928 shares of the social networking company's stock after purchasing an additional 470 shares during the quarter. Meta Platforms makes up approximately 1.1% of Worth Financial Advisory Group LLC's investment portfolio, making the stock its 21st largest position. Worth Financial Advisory Group LLC's holdings in Meta Platforms were worth $1,688,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC grew its holdings in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Down 1.9%

META opened at $682.35 on Monday. The business has a 50 day moving average price of $618.10 and a two-hundred day moving average price of $623.24. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.72 trillion, a PE ratio of 26.61, a P/E/G ratio of 1.68 and a beta of 1.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of Meta Platforms in a research report on Thursday, June 12th. Benchmark decreased their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer lifted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Truist Financial lifted their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $710.00.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the completion of the transaction, the insider now owns 28,664 shares in the company, valued at approximately $20,121,841.36. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,423 shares of company stock worth $73,580,663. 13.61% of the stock is owned by insiders.

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.

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