Fairhaven Wealth Management LLC Invests $235,000 in Meta Platforms, Inc. (NASDAQ:META)

Fairhaven Wealth Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 484 shares of the social networking company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. S.A. Mason LLC increased its holdings in Meta Platforms by 1.5% in the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after buying an additional 21 shares in the last quarter. LongView Wealth Management raised its holdings in shares of 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 buying an additional 22 shares during the period. Hanson & Doremus Investment Management lifted its stake in Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock worth $211,000 after acquiring an additional 22 shares in the last quarter. Finally, Madison Wealth Partners Inc boosted its holdings in Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after acquiring an additional 23 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the firm’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 completion of the sale, the chief operating officer now directly 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 can be accessed through this link. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total value of $291,675.15. Following the sale, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction 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 $7,268,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,905 shares of company stock valued at $123,528,726. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $539.91 on Monday. 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 business has a 50 day simple moving average of $484.36 and a 200-day simple moving average of $461.69. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $540.87. The stock has a market capitalization of $1.37 trillion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors 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 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Raymond James boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. KeyCorp boosted their price target on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Piper Sandler reiterated an “overweight” rating and issued a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lowered their target price on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $511.27.

Get Our Latest Stock Report on META

About Meta Platforms

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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