Meta Platforms, Inc. (NASDAQ:META) is Mezzasalma Advisors LLC’s Largest Position

Mezzasalma Advisors LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,569 shares of the social networking company’s stock after purchasing an additional 154 shares during the period. Meta Platforms accounts for approximately 8.9% of Mezzasalma Advisors LLC’s portfolio, making the stock its largest holding. Mezzasalma Advisors LLC’s holdings in Meta Platforms were worth $18,728,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. S.A. Mason LLC grew its holdings in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. LongView Wealth Management increased its position in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the last quarter. Madison Wealth Partners Inc raised its stake in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after purchasing an additional 23 shares in the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of Meta Platforms by 1.9% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock valued at $648,000 after buying an additional 23 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. KeyCorp raised their price objective on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. UBS Group reduced their price objective on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Truist Financial reduced their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group lowered their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $511.27.

Insider Buying and Selling at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,905 shares of company stock worth $123,528,726. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $539.91 on Friday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $540.87. The company has a 50 day moving average of $484.36 and a 200-day moving average of $460.13. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.32 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm 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, equities analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.