Horizon Wealth Management LLC Buys 202 Shares of Meta Platforms, Inc. (NASDAQ:META)

Horizon Wealth Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,942 shares of the social networking company’s stock after acquiring an additional 202 shares during the quarter. Horizon Wealth Management LLC’s holdings in Meta Platforms were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in META. Fjell Capital LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $325,000. Daner Wealth Management LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at about $334,000. Appleton Partners Inc. MA boosted its stake in shares of Meta Platforms by 3.7% in the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company’s stock valued at $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $697.71 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The firm’s 50 day moving average is $587.67 and its 200-day moving average is $614.84.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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 paid a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $671.00, for a total value of $348,249.00. Following the completion of the transaction, the insider now directly owns 29,702 shares of the company’s stock, valued at approximately $19,930,042. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the transaction, the chief operating officer now directly owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,171 shares of company stock valued at $35,163,457. 13.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Capital raised their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. KeyCorp raised their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Morgan Stanley raised their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Finally, Truist Financial lifted their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $702.48.

Meta Platforms Company 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.