BluePointe Capital Management LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

BluePointe Capital Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 48.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,923 shares of the social networking company's stock after buying an additional 1,597 shares during the period. Meta Platforms accounts for 1.1% of BluePointe Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. BluePointe Capital Management LLC's holdings in Meta Platforms were worth $2,838,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Valley Financial Group Inc. boosted its position in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Riverwater Partners LLC boosted its position in shares of Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares in the last quarter. ABLE Financial Group LLC boosted its position in shares of Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after purchasing an additional 15 shares in the last quarter. Finally, Bank of Marin boosted its position in shares of Meta Platforms by 1.0% during the fourth quarter. Bank of Marin now owns 1,611 shares of the social networking company's stock worth $943,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer directly owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the sale, the chief executive officer owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,764 shares of company stock worth $105,721,208. 13.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on META. Oppenheimer lifted their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. DA Davidson reduced their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark reduced their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Moffett Nathanson lifted their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $828.00 price objective (up from $807.00) on shares of Meta Platforms in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $736.05.

Meta Platforms Stock Performance

NASDAQ META traded up $2.87 during trading on Friday, reaching $704.28. The company's stock had a trading volume of 12,743,944 shares, compared to its average volume of 14,336,421. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The firm has a 50 day moving average price of $686.09 and a 200 day moving average price of $638.34.

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 analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

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.