Family Capital Management Inc. Invests $292,000 in Meta Platforms, Inc. (NASDAQ:META)

Family Capital Management Inc. purchased a new position in shares of 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 purchased 507 shares of the social networking company's stock, valued at approximately $292,000.

Several other institutional investors also recently modified their holdings of META. Valley Financial Group Inc. increased its stake in Meta Platforms by 2.4% in the 4th 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 during the period. Lantern Wealth Advisors LLC boosted its position in shares of Meta Platforms by 0.5% in the 4th 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. Maiden Cove Capital LLC raised its stake in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after buying an additional 15 shares during the last quarter. Riverwater Partners LLC raised its position in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC grew its position in Meta Platforms by 0.7% during the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

NASDAQ META traded down $10.53 during mid-day trading on Tuesday, hitting $710.39. The stock had a trading volume of 11,425,784 shares, compared to its average volume of 15,735,748. The firm's 50 day moving average is $677.20 and its 200 day moving average is $635.41. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month 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 stock has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.76 and a beta of 1.28.

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, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the company earned $4.71 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Analysts Set New Price Targets

Several brokerages recently commented on META. Jefferies Financial Group cut their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Oppenheimer upped their target price on shares of Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Moffett Nathanson upped their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Evercore ISI increased their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $729.38.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction dated 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 sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. This represents a 10.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,263 shares of company stock worth $104,638,750. 13.61% of the stock is currently owned by company insiders.

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.