IVC Wealth Advisors LLC Purchases 23 Shares of Meta Platforms, Inc. (NASDAQ:META)

IVC Wealth Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,368 shares of the social networking company’s stock after acquiring an additional 23 shares during the quarter. Meta Platforms accounts for approximately 1.4% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 14th biggest position. IVC Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Catalyst Private Wealth LLC boosted its holdings in Meta Platforms by 6.9% in the 1st quarter. Catalyst Private Wealth LLC now owns 9,372 shares of the social networking company’s stock valued at $5,402,000 after purchasing an additional 609 shares during the period. Rooted Wealth Advisors Inc. raised its holdings in Meta Platforms by 1.3% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 1,802 shares of the social networking company’s stock valued at $1,039,000 after acquiring an additional 24 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Meta Platforms by 1.1% in the first quarter. Beese Fulmer Investment Management Inc. now owns 35,029 shares of the social networking company’s stock worth $20,189,000 after purchasing an additional 377 shares during the period. Fulcrum Capital LLC acquired a new stake in Meta Platforms during the first quarter worth about $328,000. Finally, James J. Burns & Company LLC raised its position in shares of Meta Platforms by 9.4% in the 1st quarter. James J. Burns & Company LLC now owns 1,195 shares of the social networking company’s stock valued at $689,000 after buying an additional 103 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META stock opened at $642.23 on Friday. The firm has a market cap of $1.61 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $578.56 and a 200-day moving average price of $610.83. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the prior year, the business earned $4.71 EPS. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,664 shares of company stock worth $35,484,670. Company insiders own 13.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on META shares. Benchmark decreased their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. KeyCorp upped their price objective on Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Finally, Wedbush lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $701.05.

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.