Proactive Wealth Strategies LLC Has $1.07 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Proactive Wealth Strategies LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,858 shares of the social networking company’s stock after selling 391 shares during the quarter. Proactive Wealth Strategies LLC’s holdings in Meta Platforms were worth $1,071,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $45,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $726.09 on Friday. The company has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.74 and a beta of 1.26. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm’s 50-day moving average is $633.87 and its 200 day moving average is $625.73. 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 (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 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 the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.71 EPS. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the sale, the chief operating officer now owns 6,230 shares of the company’s stock, valued at $3,507,676.90. This represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were 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 directly owns 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock valued at $83,868,872 in the last three months. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Citigroup raised their price objective on Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a research note on Tuesday. Pivotal Research dropped their price objective on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Raymond James Financial dropped their price objective on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 1st. Finally, Evercore ISI raised their price objective on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $715.76.

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.