Capitol Family Office Inc. Acquires New Stake in Meta Platforms, Inc. (NASDAQ:META)

Capitol Family Office Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 689 shares of the social networking company's stock, valued at approximately $397,000. Meta Platforms makes up 0.6% of Capitol Family Office Inc.'s portfolio, making the stock its 19th biggest holding.

Other institutional investors also recently modified their holdings of the company. Patron Partners LLC raised its position in shares of Meta Platforms by 3.5% during the first quarter. Patron Partners LLC now owns 2,634 shares of the social networking company's stock worth $1,518,000 after purchasing an additional 89 shares during the period. Westend Capital Management LLC increased its stake in Meta Platforms by 0.8% during the 1st quarter. Westend Capital Management LLC now owns 28,084 shares of the social networking company's stock valued at $16,186,000 after purchasing an additional 218 shares in the last quarter. CWC Advisors LLC. bought a new stake in Meta Platforms during the 1st quarter valued at $641,000. Monument Group Wealth Advisors LLC acquired a new position in Meta Platforms during the first quarter worth $211,000. Finally, Bordeaux Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 5.7% in the first quarter. Bordeaux Wealth Advisors LLC now owns 12,169 shares of the social networking company's stock valued at $7,014,000 after buying an additional 658 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of META traded up $3.34 during trading hours on Friday, hitting $716.91. The company's stock had a trading volume of 8,601,653 shares, compared to its average volume of 14,544,817. The business has a 50 day simple moving average of $658.89 and a two-hundred day simple moving average of $630.04. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on META shares. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Wedbush raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Cantor Fitzgerald lifted their target price on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. KeyCorp increased their price target on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.29.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $737.00, for a total value of $382,503.00. Following the completion of the transaction, the insider owned 27,626 shares in the company, valued at $20,360,362. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,285 shares of company stock worth $105,518,153. 13.61% of the stock is owned by company insiders.

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.