IMA Wealth Inc. Has $3.35 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

IMA Wealth Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,469 shares of the social networking company’s stock after selling 106 shares during the period. Meta Platforms makes up about 1.7% of IMA Wealth Inc.’s holdings, making the stock its 18th biggest position. IMA Wealth Inc.’s holdings in Meta Platforms were worth $3,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC raised its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. PayPay Securities Corp raised its position in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. Cranbrook Wealth Management LLC raised its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms during the fourth quarter valued at $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $501.18, for a total value of $245,578.20. Following the transaction, the chief operating officer now directly owns 7,089 shares of the company’s stock, valued at $3,552,865.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,349,148 shares of company stock valued at $649,552,559. Company insiders own 13.75% of the company’s stock.

Meta Platforms Trading Up 0.4 %

NASDAQ:META traded up $1.91 on Friday, reaching $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. The firm has a market cap of $1.13 trillion, a PE ratio of 25.46, a PEG ratio of 1.12 and a beta of 1.20. The business’s 50-day moving average price is $494.48 and its two-hundred day moving average price is $404.27.

Meta Platforms (NASDAQ:META) last posted its earnings results 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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.33 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent analyst reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Evercore ISI upped their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Raymond James dropped their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Citigroup dropped their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, UBS Group decreased their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Company 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.