Horizon Wealth Management LLC Buys 202 Shares of Meta Platforms, Inc. (NASDAQ:META)

Horizon Wealth Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942 shares of the social networking company’s stock after purchasing an additional 202 shares during the quarter. Horizon Wealth Management LLC’s holdings in Meta Platforms were worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after buying an additional 14 shares during the period. Seelaus Asset Management LLC increased its stake in shares of Meta Platforms by 0.9% in the fourth 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 during the period. Meredith Wealth Planning increased its stake in shares of Meta Platforms by 0.8% in the fourth 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 during the period. Finally, Maiden Cove Capital LLC increased its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after buying an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,171 shares of company stock worth $35,163,457 in the last quarter. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

META opened at $697.71 on Friday. 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 stock has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. The company’s 50-day simple moving average is $587.67 and its two-hundred day simple moving average is $614.84. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 EPS. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on META shares. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup lifted their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Truist Financial lifted their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Evercore ISI lifted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $702.48.

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.