Warren Street Wealth Advisors LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Warren Street Wealth Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,004 shares of the social networking company’s stock after buying an additional 89 shares during the quarter. Meta Platforms makes up 0.7% of Warren Street Wealth Advisors LLC’s holdings, making the stock its 25th largest position. Warren Street Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Matrix Trust Co raised its holdings in Meta Platforms by 26.4% in the 1st quarter. Matrix Trust Co now owns 359 shares of the social networking company’s stock worth $207,000 after purchasing an additional 75 shares during the period. Portside Wealth Group LLC raised its holdings in shares of Meta Platforms by 31.1% during the first quarter. Portside Wealth Group LLC now owns 7,715 shares of the social networking company’s stock valued at $4,517,000 after acquiring an additional 1,832 shares during the last quarter. Park Edge Advisors LLC raised its holdings in shares of Meta Platforms by 16.1% during the first quarter. Park Edge Advisors LLC now owns 4,535 shares of the social networking company’s stock valued at $2,614,000 after acquiring an additional 629 shares during the last quarter. GenWealth Group Inc. raised its holdings in shares of Meta Platforms by 37.2% during the first quarter. GenWealth Group Inc. now owns 1,570 shares of the social networking company’s stock valued at $905,000 after acquiring an additional 426 shares during the last quarter. Finally, TruWealth Advisors LLC raised its holdings in shares of Meta Platforms by 2.9% during the first quarter. TruWealth Advisors LLC now owns 18,449 shares of the social networking company’s stock valued at $10,633,000 after acquiring an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of analyst reports. Rosenblatt Securities upped their price target on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their price target on Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Loop Capital upped their price target on Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Morgan Stanley increased their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $702.48.

Meta Platforms Stock Up 3.2%

Meta Platforms stock opened at $687.95 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two 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 company has a market capitalization of $1.73 trillion, a P/E ratio of 28.76, a PEG ratio of 1.42 and a beta of 1.24. The stock has a 50-day simple moving average of $583.27 and a 200-day simple moving average of $613.00.

Meta Platforms (NASDAQ:META) last issued 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 firm had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend 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%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the transaction, the insider now owns 33,024 shares in the company, valued at approximately $19,649,280. The trade was a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the transaction, the chief operating officer now owns 8,054 shares in the company, valued at $4,904,886. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,652 shares of company stock worth $34,815,208 in the last quarter. Company insiders own 13.61% of the company’s stock.

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.