Core Alternative Capital Buys 1,688 Shares of Meta Platforms, Inc. (NASDAQ:META)

Core Alternative Capital increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 81.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,757 shares of the social networking company's stock after purchasing an additional 1,688 shares during the period. Core Alternative Capital's holdings in Meta Platforms were worth $2,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at $28,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $45,000. Institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a report on Wednesday, June 18th. Morgan Stanley boosted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a report on Friday. Finally, Evercore ISI boosted their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $729.38.

Meta Platforms Stock Performance

Shares of META stock traded down $9.73 on Friday, reaching $717.51. The stock had a trading volume of 10,855,962 shares, compared to its average volume of 14,460,014. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average is $674.77 and its two-hundred day moving average is $634.35. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.76 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.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the transaction, the chief operating officer directly owned 7,336 shares in the company, valued at approximately $5,263,653.36. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,792 shares of company stock valued at $105,466,325. 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.