Viawealth LLC Has $568,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Viawealth LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,169 shares of the social networking company’s stock after selling 57 shares during the period. Viawealth LLC’s holdings in Meta Platforms were worth $568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. S.A. Mason LLC raised its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the period. Horizon Bancorp Inc. IN increased its holdings in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. LongView Wealth Management raised its stake in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. Hanson & Doremus Investment Management lifted its holdings in Meta Platforms by 5.3% during the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after purchasing an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc boosted 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 purchasing an additional 23 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the topic of several research reports. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $545.00 price target (down from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Roth Mkm increased their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Truist Financial dropped their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $519.10.

Meta Platforms Trading Up 0.2 %

META traded up $0.94 during midday trading on Friday, reaching $476.79. 15,149,416 shares of the company’s stock traded hands, compared to its average volume of 13,694,282. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a fifty day moving average of $493.41 and a two-hundred day moving average of $471.18. The stock has a market capitalization of $1.21 trillion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.21 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,106 shares of company stock valued at $154,542,945. Corporate insiders own 13.71% 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.