Thrive Wealth Management LLC Purchases 19 Shares of Meta Platforms, Inc. (NASDAQ:META)

Thrive Wealth Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,824 shares of the social networking company’s stock after buying an additional 19 shares during the period. Thrive Wealth Management LLC’s holdings in Meta Platforms were worth $1,628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 517 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $644.93, for a total value of $333,428.81. Following the completion of the sale, the chief operating officer now directly owns 9,921 shares of the company’s stock, valued at $6,398,350.53. This trade represents a 4.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total transaction of $298,418.75. Following the sale, the director now owns 10,272 shares of the company’s stock, valued at approximately $6,453,384. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,652 shares of company stock valued at $34,815,208. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 3.2%

META stock opened at $687.95 on Thursday. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm’s fifty day moving average is $583.27 and its 200 day moving average is $613.00. The firm has a market cap of $1.73 trillion, a PE ratio of 28.76, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.71 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given 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 of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on META shares. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Susquehanna lowered their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. TD Securities cut their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Loop Capital upped their target price on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $702.48.

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.