Curated Wealth Partners LLC Purchases 644 Shares of Meta Platforms, Inc. (NASDAQ:META)

Curated Wealth Partners LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,803 shares of the social networking company’s stock after acquiring an additional 644 shares during the quarter. Meta Platforms comprises about 0.4% of Curated Wealth Partners LLC’s investment portfolio, making the stock its 19th biggest position. Curated Wealth Partners LLC’s holdings in Meta Platforms were worth $2,768,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors increased its holdings in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $702.40 on Wednesday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The firm’s 50 day moving average is $593.29 and its 200-day moving average is $617.09. The firm has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.42 and a beta of 1.26. 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 (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business earned $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. UBS Group lifted their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $702.48.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company’s stock, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,104 shares of company stock worth $35,270,242. Corporate 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.