Potentia Wealth Has $2.46 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Potentia Wealth decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,266 shares of the social networking company’s stock after selling 636 shares during the quarter. Meta Platforms comprises about 1.2% of Potentia Wealth’s portfolio, making the stock its 19th biggest holding. Potentia Wealth’s holdings in Meta Platforms were worth $2,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in META. Price T Rowe Associates Inc. MD increased its holdings in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after buying an additional 1,141,355 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after buying an additional 23,417,803 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after buying an additional 2,787,832 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Meta Platforms by 8.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after buying an additional 1,255,546 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on META shares. Scotiabank raised their target price on shares of Meta Platforms from $675.00 to $685.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 31st. Loop Capital reaffirmed a “buy” rating and issued a $980.00 price objective (up from $888.00) on shares of Meta Platforms in a report on Tuesday, August 5th. KeyCorp upped their price objective on Meta Platforms from $800.00 to $905.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Evercore ISI upped their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, Bank of America upped their price objective on Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $822.41.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $767.80, for a total value of $11,517,000.00. Following the completion of the sale, the insider directly owned 222,205 shares of the company’s stock, valued at $170,608,999. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 515 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $776.38, for a total value of $399,835.70. Following the completion of the sale, the insider directly owned 25,035 shares of the company’s stock, valued at $19,436,673.30. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,416 shares of company stock valued at $199,599,359. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Stock Up 1.0%

META stock opened at $769.30 on Monday. The stock’s 50 day moving average is $714.53 and its 200-day moving average is $651.30. The firm has a market capitalization of $1.93 trillion, a PE ratio of 27.85, a P/E/G ratio of 1.60 and a beta of 1.27. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 7.60%.

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.