Collaborative Wealth Managment Inc. Boosts Holdings in Meta Platforms, Inc. $META

Collaborative Wealth Managment Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 192.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,353 shares of the social networking company’s stock after acquiring an additional 890 shares during the quarter. Collaborative Wealth Managment Inc.’s holdings in Meta Platforms were worth $893,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Goepper Burkhardt LLC raised its stake in shares of Meta Platforms by 19.0% during the fourth quarter. Goepper Burkhardt LLC now owns 1,220 shares of the social networking company’s stock worth $805,000 after acquiring an additional 195 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Meta Platforms by 2.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 5,704 shares of the social networking company’s stock worth $3,765,000 after acquiring an additional 145 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Meta Platforms by 6.6% during the fourth quarter. Bleakley Financial Group LLC now owns 82,539 shares of the social networking company’s stock worth $54,483,000 after acquiring an additional 5,119 shares in the last quarter. Box Hill Private Wealth LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth approximately $1,069,000. Finally, Dillon & Associates Inc. raised its stake in shares of Meta Platforms by 1.0% during the fourth quarter. Dillon & Associates Inc. now owns 12,312 shares of the social networking company’s stock worth $8,126,000 after acquiring an additional 117 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Truist Financial decreased their price target on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Benchmark initiated coverage on shares of Meta Platforms in a research note on Tuesday. They set a “buy” rating on the stock. The Goldman Sachs Group downgraded shares of Meta Platforms from a “buy” rating to a “sell” rating in a research note on Tuesday. Barclays lifted their price target on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald decreased their target price on shares of Meta Platforms from $850.00 to $750.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $840.60.

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta launched a new Meta Business Agent for WhatsApp, Messenger, and Instagram, targeting enterprise customers and giving investors a potential new revenue stream beyond advertising. Reuters article
• Positive Sentiment: Meta won a partial legal victory in Europe over the EU’s treatment of Marketplace under tech rules, easing one regulatory overhang. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with at least one recent upgrade to strong-buy and multiple bullish price targets tied to Meta’s commerce and AI initiatives. Finviz reference

Insiders Place Their Bets

In related news, Director Robert M. Kimmitt sold 504 shares of Meta Platforms stock in a transaction on Monday, June 1st. The shares were sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director owned 3,943 shares in the company, valued at $2,481,290.47. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the sale, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,860 shares of company stock valued at $26,555,260 over the last quarter. 13.53% of the stock is owned by company insiders.

Meta Platforms Stock Up 0.7%

Shares of NASDAQ META opened at $627.57 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25. The firm’s fifty day moving average is $618.87 and its 200 day moving average is $636.87. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.10 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the previous year, the firm earned $6.43 earnings per share. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s payout ratio is 7.63%.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.