LFG Wealth Partners LLC Acquires Shares of 5,626 Meta Platforms, Inc. $META

LFG Wealth Partners LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, Holdings Channel reports. The fund acquired 5,626 shares of the social networking company’s stock, valued at approximately $3,714,000. Meta Platforms comprises approximately 2.4% of LFG Wealth Partners LLC’s investment portfolio, making the stock its 7th largest position.

Other large investors also recently bought and sold shares of the company. Westchester Capital Management Inc. acquired a new position in Meta Platforms in the third quarter valued at $26,000. RHL Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $29,000. Key Capital Management INC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $48,000. Finally, Entrust Financial LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 9,195 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the transaction, the chief financial officer directly owned 13,186 shares of the company’s stock, valued at $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Curtis J. Mahoney sold 2,079 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the transaction, the insider directly owned 1,118 shares of the company’s stock, valued at $681,890.56. This represents a 65.03% 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. Over the last ninety days, insiders sold 39,170 shares of company stock valued at $24,218,565. Company insiders own 13.53% of the company’s stock.

Meta Platforms Trading Up 1.1%

NASDAQ META opened at $600.21 on Wednesday. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 21.82, a P/E/G ratio of 1.05 and a beta of 1.23. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The firm has a 50-day moving average price of $622.04 and a 200 day moving average price of $635.51. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. The firm had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted $6.43 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio is currently 7.63%.

Analysts Set New Price Targets

META has been the subject of several recent research reports. KeyCorp reiterated an “overweight” rating and set a $760.00 target price on shares of Meta Platforms in a research note on Thursday, April 30th. Susquehanna upgraded shares of Meta Platforms from a “positive” rating to a “positive” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company decreased their target price on shares of Meta Platforms from $770.00 to $765.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Truist Financial decreased their target price on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Raymond James Financial upgraded shares of Meta Platforms from an “underperform” rating to an “outperform” rating in a research note on Tuesday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $840.60.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta’s new AI Mode in Facebook Search and related AI tools could open a new monetization stream and improve engagement across its apps. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Positive Sentiment: Bank of America reiterated a Buy rating, saying Meta’s AI strategy remains a key growth catalyst. BofA Reiterates Buy Rating on Meta Platforms (META) Cites AI Strategy a Key Growth Catalyst
• Positive Sentiment: Threads reached 500 million monthly active users, highlighting continued platform growth and stronger user engagement. Meta’s Threads reaches 500 million monthly users, rolls out new features
• Neutral Sentiment: Meta’s CTO said morale in the AI unit is near historic lows, which may reflect execution challenges even as the company doubles down on AI. Meta’s CTO says morale is almost ‘the worst it’s ever been’
• Negative Sentiment: Apple’s upcoming AI-powered AirPods and smart glasses could intensify competition in the AI wearables market, potentially challenging Meta’s device strategy. Apple to launch AI-juiced AirPods and sunglasses, going head-to-head with Meta
• Negative Sentiment: Reports of consumer-protection lawsuits in Europe add another regulatory overhang for Meta. Consumer Protection: Three Chances for Damages from Meta Platforms

About Meta Platforms

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.