Cornerstone Planning Group LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 54.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,669 shares of the social networking company's stock after purchasing an additional 587 shares during the quarter. Cornerstone Planning Group LLC's holdings in Meta Platforms were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in META. Norges Bank acquired a new position in Meta Platforms in the 4th quarter valued at about $19,949,512,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 23,417,803 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $2,243,603,000. Northern Trust Corp increased its stake in shares of Meta Platforms by 13.5% during 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 acquiring an additional 2,787,832 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Meta Platforms by 712.2% during the 1st 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 acquiring an additional 2,225,186 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Stock Performance
Meta Platforms stock opened at $717.51 on Friday. The stock has a market cap of $1.80 trillion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $674.77 and a 200-day moving average of $634.35. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.71 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Analyst Ratings Changes
A number of research firms have recently commented on META. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial dropped their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Moffett Nathanson upped their price objective 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. Truist Financial upped their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $729.38.
Check Out Our Latest Report on META
Insider Activity
In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer directly owned 70,040 shares in the company, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 153,792 shares of company stock worth $105,466,325. 13.61% of the stock is currently owned by insiders.
Meta Platforms Profile
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Free Report)
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.
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