Monument Group Wealth Advisors LLC Invests $211,000 in Meta Platforms, Inc. (NASDAQ:META)

Monument Group Wealth Advisors LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 366 shares of the social networking company's stock, valued at approximately $211,000.

Several other large investors also recently modified their holdings of the business. Suvretta Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP lifted its stake in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC bought a new stake in Meta Platforms in the 4th quarter valued at approximately $459,000. Kovitz Investment Group Partners LLC boosted its position in Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after acquiring an additional 110,040 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total transaction of $365,837.91. Following the transaction, the insider owned 28,145 shares in the company, valued at $19,839,129.05. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction on Monday, June 16th. The shares were sold at an average price of $699.27, for a total value of $325,160.55. Following the completion of the transaction, the director directly owned 9,807 shares of the company's stock, valued at $6,857,740.89. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,095 shares of company stock valued at $93,076,345. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $5.65 during trading on Wednesday, reaching $713.57. The company's stock had a trading volume of 9,315,187 shares, compared to its average volume of 14,534,414. 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 business's 50-day moving average price is $647.96 and its 200-day moving average price is $627.91. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The firm has a market cap of $1.79 trillion, a PE ratio of 27.83, a P/E/G ratio of 1.81 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current 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 given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's payout ratio is 8.19%.

Analyst Ratings Changes

META has been the topic of a number of research reports. Evercore ISI boosted their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group reiterated a "buy" rating and issued a $812.00 price target (up from $683.00) on shares of Meta Platforms in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $719.29.

Meta Platforms Company 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.