965 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Crosspoint Financial LLC

Crosspoint Financial LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 965 shares of the social networking company's stock, valued at approximately $556,000. Meta Platforms makes up approximately 1.6% of Crosspoint Financial LLC's investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter worth about $19,949,512,000. GAMMA Investing LLC grew its position in Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $2,243,603,000. Northern Trust Corp grew its position in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after buying an additional 2,225,186 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,780 shares of company stock worth $105,009,697. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Trading Down 0.3%

META stock traded down $1.76 during trading on Thursday, hitting $701.15. 7,915,056 shares of the company traded hands, compared to its average volume of 15,675,123. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The firm has a market capitalization of $1.76 trillion, a PE ratio of 27.34, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a 50-day moving average of $681.78 and a 200-day moving average of $636.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on META. Morgan Stanley increased their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Scotiabank reduced their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Barclays dropped their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company increased their price objective on Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Roth Capital increased their price objective on Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $736.05.

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.