Cornerstone Select Advisors LLC Makes New $1.69 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Cornerstone Select Advisors LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,890 shares of the social networking company's stock, valued at approximately $1,692,000. Meta Platforms accounts for about 1.6% of Cornerstone Select Advisors LLC's holdings, making the stock its 17th biggest holding.

Several other large investors also recently modified their holdings of META. Crestline Management LP grew its position in shares of Meta Platforms by 48.3% during the 4th quarter. Crestline Management LP now owns 33,610 shares of the social networking company's stock valued at $19,679,000 after acquiring an additional 10,943 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Meta Platforms by 2.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 288,202 shares of the social networking company's stock valued at $168,745,000 after purchasing an additional 6,259 shares during the period. Capital Advantage Inc. purchased a new stake in Meta Platforms in the fourth quarter worth about $1,448,000. Cetera Investment Advisers raised its stake in shares of Meta Platforms by 6.9% in the fourth quarter. Cetera Investment Advisers now owns 470,935 shares of the social networking company's stock worth $275,737,000 after buying an additional 30,299 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of Meta Platforms by 1.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 60,193 shares of the social networking company's stock valued at $35,243,000 after buying an additional 800 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $587.31 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company's 50-day moving average is $572.38 and its 200 day moving average is $604.03.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The company's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Bank of America raised their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Oppenheimer upped their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $696.45.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,749 shares of company stock valued at $148,089,532. 13.71% of the stock is currently owned by company insiders.

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.

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