Icon Wealth Advisors LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Icon Wealth Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 12.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,019 shares of the social networking company’s stock after purchasing an additional 665 shares during the period. Icon Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms during the first quarter worth $44,000. Finally, Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.5 %

META traded down $2.52 on Tuesday, hitting $463.19. The company had a trading volume of 11,294,849 shares, compared to its average volume of 16,128,882. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The stock has a fifty day simple moving average of $493.11 and a 200-day simple moving average of $477.40. The firm has a market capitalization of $1.17 trillion, a P/E ratio of 26.60, a P/E/G ratio of 1.20 and a beta of 1.21.

Meta Platforms Announces Dividend

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 $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. Insiders sold 311,175 shares of company stock worth $154,616,712 over the last three months. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Truist Financial decreased their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Canaccord Genuity Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $538.29.

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.