Fort Point Capital Partners LLC Lowers Stock Position in Meta Platforms, Inc. $META

Key Points

• Fort Point Capital Partners slashed its Meta Platforms stake by 87.2% in the fourth quarter, leaving it with 715 shares worth about $444,000.
• Meta reported strong quarterly results, with EPS of $10.44 beating estimates and revenue of $56.31 billion rising 33.1% year over year.
• The company also announced a quarterly dividend of $0.525 per share, while analysts maintain a Moderate Buy consensus and an average price target of $840.60.

Fort Point Capital Partners LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 87.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 715 shares of the social networking company's stock after selling 4,889 shares during the period. Fort Point Capital Partners LLC's holdings in Meta Platforms were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in META. Brighton Jones LLC boosted its position in Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its position in Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Headwater Capital Co Ltd boosted its position in Meta Platforms by 294.7% during the 1st quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company's stock worth $86,454,000 after purchasing an additional 112,000 shares during the period. Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in Meta Platforms during the 2nd quarter worth $213,000. Finally, Capital & Planning LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at about $322,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $566.98 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $1.43 trillion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The firm has a 50 day simple moving average of $621.15 and a 200 day simple moving average of $636.05. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business's quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the business posted $6.43 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms's dividend payout ratio (DPR) is currently 7.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on META. Raymond James Financial upgraded shares of Meta Platforms from an "underperform" rating to an "outperform" rating in a research note on Tuesday, June 2nd. UBS Group lowered shares of Meta Platforms from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $725.00 target price (down from $825.00) on shares of Meta Platforms in a research note on Thursday, April 30th. Barclays increased their price objective on shares of Meta Platforms from $800.00 to $830.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Benchmark began coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $840.60.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 2,778 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the sale, the chief operating officer owned 10,557 shares in the company, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer owned 13,186 shares of the company's stock, valued at $8,014,978.24. The trade was a 41.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 39,170 shares of company stock valued at $24,218,565. Company insiders own 13.53% of the company's stock.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

About Meta Platforms

Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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