Monument Capital Management Buys 5,187 Shares of Meta Platforms, Inc. (NASDAQ:META)

Monument Capital Management grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 248.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,275 shares of the social networking company's stock after acquiring an additional 5,187 shares during the period. Meta Platforms comprises approximately 1.3% of Monument Capital Management's investment portfolio, making the stock its 23rd biggest holding. Monument Capital Management's holdings in Meta Platforms were worth $4,193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Valley Financial Group Inc. lifted 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 valued at $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC raised its holdings in 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 valued at $1,743,000 after acquiring an additional 14 shares during the last quarter. Maiden Cove Capital LLC grew its stake in shares of Meta Platforms by 3.2% in the 4th 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 period. Riverwater Partners LLC grew its stake 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 valued at $335,000 after buying an additional 15 shares during the period. Finally, ABLE Financial Group LLC grew its stake in shares of Meta Platforms by 0.7% in 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 buying an additional 15 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Activity

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $737.00, for a total value of $382,503.00. Following the sale, the insider owned 27,626 shares of the company's stock, valued at $20,360,362. The trade was a 1.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $740.97, for a total transaction of $383,081.49. Following the sale, the chief operating officer directly owned 7,853 shares in the company, valued at approximately $5,818,837.41. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock valued at $105,518,153 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.5%

META opened at $716.91 on Friday. The business has a 50 day moving average price of $655.49 and a two-hundred day moving average price of $629.14. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 trillion, a PE ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28. 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 posted its quarterly earnings data 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 firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.71 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. 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 payout ratio is 8.19%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective 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. Pivotal Research lowered their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Susquehanna dropped their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Scotiabank decreased their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Finally, Bank of America raised their target price on Meta Platforms from $690.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Five equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $719.29.

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.

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