Strategic Planning Group LLC Acquires 1,803 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strategic Planning Group LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 14.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,241 shares of the social networking company's stock after acquiring an additional 1,803 shares during the quarter. Meta Platforms accounts for about 1.7% of Strategic Planning Group LLC's holdings, making the stock its 17th biggest holding. Strategic Planning Group LLC's holdings in Meta Platforms were worth $6,915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Stone House Investment Management LLC raised its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock valued at $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC increased its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock valued at $36,000 after purchasing an additional 45 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.13 during trading on Monday, hitting $498.91. The company's stock had a trading volume of 13,510,753 shares, compared to its average volume of 16,601,334. The company has a 50-day moving average of $478.58 and a 200-day moving average of $450.54. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. 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 market cap of $1.27 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.30 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion for the quarter, compared to analysts' expectations of $36.28 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms's payout ratio is 11.49%.

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Benchmark reissued a "hold" rating on shares of Meta Platforms in a research report on Monday, April 22nd. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Finally, Truist Financial reduced their target price on shares of Meta Platforms from $550.00 to $535.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $510.05.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the transaction, the chief operating officer now directly owns 7,619 shares of the company's stock, valued at $3,824,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company's stock, valued at $20,043,756. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,223 shares of company stock worth $115,501,591. Company insiders own 13.71% of the company's stock.

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.

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