Lake Street Private Wealth LLC Has $8.03 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Lake Street Private Wealth LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,933 shares of the social networking company’s stock after selling 617 shares during the period. Meta Platforms makes up about 1.3% of Lake Street Private Wealth LLC’s portfolio, making the stock its 14th biggest holding. Lake Street Private Wealth LLC’s holdings in Meta Platforms were worth $8,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Fjell Capital LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $1,836,000. Opulen Financial Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $334,000. Appleton Partners Inc. MA boosted its position in Meta Platforms by 3.7% in the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock valued at $15,406,000 after buying an additional 951 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the transaction, the insider now owns 32,103 shares of the company’s stock, valued at $19,269,825.75. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $644.93, for a total transaction of $333,428.81. Following the completion of the sale, the chief operating officer now directly owns 9,921 shares of the company’s stock, valued at $6,398,350.53. This trade represents a 4.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,652 shares of company stock valued at $34,815,208. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on META shares. UBS Group raised their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Barclays lowered their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Pivotal Research lowered their target price on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Oppenheimer lifted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $702.48.

Meta Platforms Stock Performance

Shares of META stock opened at $687.95 on Thursday. The firm’s 50-day simple moving average is $583.27 and its two-hundred day simple moving average is $613.00. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.73 trillion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.42 and a beta of 1.24.

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, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.71 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

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.