Priebe Wealth Holdings LLC Has $375,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Priebe Wealth Holdings LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 650 shares of the social networking company’s stock after buying an additional 92 shares during the period. Priebe Wealth Holdings LLC’s holdings in Meta Platforms were worth $375,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $19,949,512,000. GAMMA Investing LLC increased its stake in 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 valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at $2,243,603,000. Finally, Northern Trust Corp grew its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.9%

Meta Platforms stock opened at $697.71 on Monday. The firm has a 50 day simple moving average of $587.67 and a 200 day simple moving average of $615.55. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 during the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is presently 8.19%.

Analysts Set New Price Targets

A number of research firms recently weighed in on META. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Barclays dropped their target price on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Finally, Raymond James lowered their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $702.48.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 475 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now directly owns 10,272 shares in the company, valued at $6,453,384. This represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the completion of the sale, the insider now directly owns 29,702 shares in the company, valued at approximately $19,930,042. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,563 shares of company stock valued at $34,793,185 in the last quarter. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Profile

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.