Apollon Wealth Management LLC Has $60.17 Million Holdings in Meta Platforms, Inc. $META

Apollon Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,154 shares of the social networking company’s stock after acquiring an additional 1,567 shares during the period. Meta Platforms comprises 1.0% of Apollon Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Apollon Wealth Management LLC’s holdings in Meta Platforms were worth $60,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Spirepoint Private Client LLC raised its holdings in shares of Meta Platforms by 5.9% in the 4th quarter. Spirepoint Private Client LLC now owns 5,173 shares of the social networking company’s stock worth $3,415,000 after acquiring an additional 288 shares during the last quarter. Triad Wealth Partners LLC raised its holdings in shares of Meta Platforms by 39.2% in the 4th quarter. Triad Wealth Partners LLC now owns 8,432 shares of the social networking company’s stock worth $5,566,000 after acquiring an additional 2,374 shares during the last quarter. Legacy Trust raised its holdings in shares of Meta Platforms by 2.8% in the 4th quarter. Legacy Trust now owns 14,615 shares of the social networking company’s stock worth $9,647,000 after acquiring an additional 401 shares during the last quarter. BOCHK Asset Management Ltd raised its holdings in shares of Meta Platforms by 57.8% in the 4th quarter. BOCHK Asset Management Ltd now owns 3,904 shares of the social networking company’s stock worth $2,577,000 after acquiring an additional 1,430 shares during the last quarter. Finally, IRON Financial LLC raised its holdings in shares of Meta Platforms by 15.0% in the 4th quarter. IRON Financial LLC now owns 1,300 shares of the social networking company’s stock worth $858,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

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Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Barclays reiterated an “overweight” rating and issued a $800.00 price objective (up from $770.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Morgan Stanley decreased their price objective on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $808.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Scotiabank increased their price objective on shares of Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a research note on Thursday, January 29th. Finally, Rosenblatt Securities decreased their price objective on shares of Meta Platforms from $1,144.00 to $1,015.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $837.72.

Get Our Latest Report on META

Insider Buying and Selling

In related news, CFO Susan J. Li sold 56,571 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $644.70, for a total value of $36,471,323.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the completion of the transaction, the chief operating officer directly owned 10,557 shares of the company’s stock, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 165,079 shares of company stock valued at $105,624,755. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 1.7%

Meta Platforms stock opened at $688.55 on Friday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a 50 day moving average price of $627.49 and a 200-day moving average price of $651.26. The company has a market capitalization of $1.74 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.05 and a beta of 1.31. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The firm had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. During the same period in the prior year, the firm earned $8.02 EPS. The company’s revenue was up 23.8% compared to the same quarter last year. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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

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