Constitution Capital LLC Purchases 1,200 Shares of Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 70.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,905 shares of the social networking company's stock after buying an additional 1,200 shares during the quarter. Meta Platforms makes up 0.9% of Constitution Capital LLC's portfolio, making the stock its 24th largest position. Constitution Capital LLC's holdings in Meta Platforms were worth $1,674,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in META. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms during the fourth quarter worth $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

NASDAQ:META traded up $8.34 during mid-day trading on Tuesday, reaching $702.40. The stock had a trading volume of 10,818,910 shares, compared to its average volume of 14,522,739. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market capitalization of $1.77 trillion, a PE ratio of 29.36, a P/E/G ratio of 1.42 and a beta of 1.26. 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 stock has a 50-day simple moving average of $593.29 and a two-hundred day simple moving average of $617.09.

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 (EPS) for the quarter, beating 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 company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company posted $4.71 EPS. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Insider Activity

In related news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,104 shares of company stock worth $35,270,242. Corporate insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on META shares. Stifel Nicolaus boosted their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. 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 note on Thursday, May 1st. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Loop Capital raised their price target on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Jefferies Financial Group dropped their price objective on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $702.48.

About Meta Platforms

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.