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

StoneCrest Wealth Management Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 35.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,827 shares of the social networking company’s stock after acquiring 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 filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $11,285,855,000. FMR LLC raised its position in Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC raised its position in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Capital Research Global Investors boosted its stake in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Finally, Concentrum Wealth Management grew its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock traded down $2.45 during midday trading on Tuesday, reaching $430.17. 18,396,504 shares of the company’s stock were exchanged, compared to its average volume of 18,427,248. The stock’s 50-day simple moving average is $492.83 and its 200 day simple moving average is $406.97. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.15 and a beta of 1.20. 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 52 week low of $229.85 and a 52 week high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold 1,276,972 shares of company stock valued at $620,667,449 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on META shares. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Robert W. Baird dropped their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Bank of America increased their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wolfe Research lowered their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Barclays reduced their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $509.18.

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.