StoneCrest Wealth Management Inc. Has $887,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

StoneCrest Wealth Management Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 35.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,827 shares of the social networking company’s stock after buying an additional 477 shares during the quarter. StoneCrest Wealth Management Inc.’s holdings in Meta Platforms were worth $887,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Stone House Investment Management LLC grew its position in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. PayPay Securities Corp increased its position in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. Finally, Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $441.54, for a total value of $216,354.60. Following the completion of the transaction, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $441.54, for a total value of $216,354.60. Following the transaction, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Insiders have sold a total of 1,276,972 shares of company stock worth $620,667,449 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 0.6 %

META traded down $2.45 on Tuesday, hitting $430.17. 18,396,504 shares of the company were exchanged, compared to its average volume of 18,427,248. The firm has a fifty day simple moving average of $492.83 and a two-hundred day simple moving average of $406.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49. The stock has a market capitalization of $1.10 trillion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.46%. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on META shares. Stifel Nicolaus raised their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Sanford C. Bernstein dropped their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Citigroup dropped their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Barclays dropped their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

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.