Nova R Wealth Inc. Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Nova R Wealth Inc. purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 962 shares of the social networking company’s stock, valued at approximately $467,000.

Other large investors have also recently bought and sold shares of the company. Madison Wealth Partners Inc grew its position in Meta Platforms by 1.6% during the fourth quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares during the period. Monterey Private Wealth Inc. increased its stake in Meta Platforms by 1.8% in the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock valued at $670,000 after purchasing an additional 24 shares in the last quarter. Grandview Asset Management LLC increased its stake in Meta Platforms by 0.3% in the 1st quarter. Grandview Asset Management LLC now owns 8,549 shares of the social networking company’s stock valued at $4,151,000 after purchasing an additional 24 shares in the last quarter. Addison Advisors LLC raised its holdings in Meta Platforms by 3.9% during the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after purchasing an additional 25 shares during the last quarter. Finally, Smithfield Trust Co boosted its position in Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock worth $1,730,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.8 %

Shares of NASDAQ META traded up $4.13 during trading on Monday, reaching $498.91. 13,510,753 shares of the stock were exchanged, compared to its average volume of 16,601,334. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The business’s 50-day moving average price is $478.58 and its 200 day moving average price is $450.54. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Guggenheim dropped their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group cut their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, KeyCorp upped their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $510.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total transaction of $295,594.65. Following the transaction, the insider now directly owns 39,568 shares in the company, valued at approximately $19,993,314.72. The disclosure for this sale can be found here. Insiders sold a total of 238,223 shares of company stock worth $115,501,591 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.