Constitution Capital LLC Acquires Shares of 1,190 Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,190 shares of the social networking company’s stock, valued at approximately $578,000.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC lifted its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.3 %

Shares of NASDAQ:META opened at $519.56 on Friday. The firm has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The business’s 50 day moving average price is $479.53 and its 200-day moving average price is $452.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the completion of the sale, the insider now owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the transaction, the insider now owns 38,983 shares of the company’s stock, valued at $18,906,755. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the completion of the sale, the insider now owns 8,753 shares of the company’s stock, valued at approximately $4,130,103.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,512 shares of company stock valued at $113,597,536. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on META shares. KeyCorp increased their target price on Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Wells Fargo & Company dropped their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Loop Capital cut their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group dropped their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Oppenheimer cut their price objective on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $510.05.

About Meta Platforms

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.