Jamison Private Wealth Management Inc. Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Jamison Private Wealth Management Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,065 shares of the social networking company’s stock after purchasing an additional 254 shares during the quarter. Meta Platforms comprises about 1.2% of Jamison Private Wealth Management Inc.’s investment portfolio, making the stock its 28th biggest position. Jamison Private Wealth Management Inc.’s holdings in Meta Platforms were worth $8,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $47,000. Finally, Principia Wealth Advisory LLC increased its position in shares of Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after acquiring an additional 30 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,423 shares of company stock valued at $73,580,663. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Monness Crespi & Hardt lifted their target price on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Benchmark dropped their target price on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $664.00 price target on shares of Meta Platforms in a research note on Tuesday, June 17th. Finally, Bank of America lifted their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $710.00.

View Our Latest Stock Analysis on META

Meta Platforms Stock Performance

META opened at $682.35 on Monday. The business’s 50 day moving average is $618.10 and its 200-day moving average is $623.24. The stock has a market cap of $1.72 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.68 and a beta of 1.26. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company 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 38.69% and a net margin of 39.11%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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