Cornerstone Investment Partners LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,916 shares of the social networking company's stock after selling 8,207 shares during the quarter. Meta Platforms comprises about 5.0% of Cornerstone Investment Partners LLC's portfolio, making the stock its biggest holding. Cornerstone Investment Partners LLC's holdings in Meta Platforms were worth $102,544,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms in the 1st quarter valued at about $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, valued at $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,263 shares of company stock worth $104,638,750 over the last 90 days. Insiders own 13.61% of the company's stock.
Meta Platforms Trading Up 0.5%
NASDAQ:META opened at $720.92 on Tuesday. The stock's 50 day moving average price is $677.20 and its 200 day moving average price is $635.41. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The company has a market capitalization of $1.81 trillion, a P/E ratio of 28.12, a P/E/G ratio of 1.76 and a beta of 1.28. 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 released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the prior year, the company posted $4.71 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued 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 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on META shares. Roth Capital upped their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Evercore ISI upped 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. Cantor Fitzgerald upped their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Barclays reduced their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Susquehanna reduced 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 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $729.38.
Check Out Our Latest Stock Analysis on Meta Platforms
Meta Platforms Company Profile
(
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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