Chemistry Wealth Management LLC Purchases 147 Shares of Meta Platforms, Inc. (NASDAQ:META)

Chemistry Wealth Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 20,628 shares of the social networking company’s stock after purchasing an additional 147 shares during the quarter. Meta Platforms accounts for 2.8% of Chemistry Wealth Management LLC’s portfolio, making the stock its 9th largest position. Chemistry Wealth Management LLC’s holdings in Meta Platforms were worth $11,889,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Verum Partners LLC increased its position in shares of Meta Platforms by 6.2% during the 1st quarter. Verum Partners LLC now owns 684 shares of the social networking company’s stock valued at $394,000 after purchasing an additional 40 shares during the period. Eagle Rock Investment Company LLC boosted its stake in shares of Meta Platforms by 1.3% during the 1st quarter. Eagle Rock Investment Company LLC now owns 31,039 shares of the social networking company’s stock worth $17,890,000 after acquiring an additional 395 shares in the last quarter. Prospect Financial Services LLC boosted its stake in shares of Meta Platforms by 0.7% during the 1st quarter. Prospect Financial Services LLC now owns 5,895 shares of the social networking company’s stock worth $3,397,000 after acquiring an additional 39 shares in the last quarter. Procyon Advisors LLC boosted its stake in shares of Meta Platforms by 10.1% during the 1st quarter. Procyon Advisors LLC now owns 56,338 shares of the social networking company’s stock worth $32,471,000 after acquiring an additional 5,154 shares in the last quarter. Finally, Permanent Capital Management LP boosted its stake in shares of Meta Platforms by 4.9% during the 1st quarter. Permanent Capital Management LP now owns 1,891 shares of the social networking company’s stock worth $1,090,000 after acquiring an additional 89 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.9%

NASDAQ META opened at $697.71 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $587.67 and its two-hundred day moving average is $614.84. The company has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.71 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s payout ratio is currently 8.19%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total value of $547,995.00. Following the transaction, the insider now directly owns 33,024 shares of the company’s stock, valued at $19,649,280. The trade was a 2.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,171 shares of company stock valued at $35,163,457 in the last three months. 13.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on META shares. Roth Capital raised their price objective on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Barclays reduced their price objective on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Oppenheimer raised their price objective on Meta Platforms from $650.00 to $665.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Finally, Truist Financial raised their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $702.48.

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.