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W.H. Cornerstone Investments Inc. Has $545,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

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Key Points

  • W.H. Cornerstone Investments Inc. increased its stake in Meta Platforms by 53.8%, acquiring an additional 331 shares during the first quarter, bringing its total holdings to 946 shares worth approximately $545,000.
  • Several institutional investors, including Price T Rowe Associates and Capital World Investors, also raised their positions in Meta Platforms, contributing to a high institutional ownership of 79.91% of the stock.
  • Recent analyst reports show a generally optimistic outlook for Meta Platforms, with price targets raised by firms like JPMorgan Chase and Stifel Nicolaus, indicating a consensus rating of "Moderate Buy" with an average target price of $822.41.
  • Looking to Export and Analyze Meta Platforms Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

W.H. Cornerstone Investments Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 53.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 946 shares of the social networking company's stock after acquiring an additional 331 shares during the quarter. W.H. Cornerstone Investments Inc.'s holdings in Meta Platforms were worth $545,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new stake in Meta Platforms in the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Meta Platforms in the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms in the first quarter worth $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $45,000. Finally, JCIC Asset Management Inc. lifted its stake in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after buying an additional 40 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.0%

Shares of NASDAQ:META traded up $7.47 during mid-day trading on Friday, reaching $769.30. The stock had a trading volume of 7,308,601 shares, compared to its average volume of 13,419,927. The firm has a market cap of $1.93 trillion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.27. The firm has a 50 day simple moving average of $714.53 and a two-hundred day simple moving average of $651.20. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. Meta Platforms's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 7.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Meta Platforms from $775.00 to $870.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Roth Capital boosted their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Benchmark boosted their price objective on shares of Meta Platforms from $800.00 to $890.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, TD Securities dropped their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $822.41.

Read Our Latest Stock Analysis on META

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 515 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the sale, the insider directly owned 25,035 shares in the company, valued at approximately $19,436,673.30. This trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $393,054.42. Following the sale, the chief operating officer owned 5,268 shares in the company, valued at $4,005,049.68. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,024 shares of company stock valued at $199,983,159. Insiders own 13.61% of the company's stock.

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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