Cornerstone Wealth Group LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cornerstone Wealth Group LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,006 shares of the social networking company’s stock after purchasing an additional 2,824 shares during the period. Cornerstone Wealth Group LLC’s holdings in Meta Platforms were worth $8,743,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. S.A. Mason LLC lifted its holdings in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. LongView Wealth Management lifted its holdings in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares in the last quarter. Madison Wealth Partners Inc lifted its holdings in Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock worth $502,000 after buying an additional 23 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in Meta Platforms by 1.9% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 1,247 shares of the social networking company’s stock worth $648,000 after buying an additional 23 shares in the last quarter. Finally, Monterey Private Wealth Inc. lifted its holdings in Meta Platforms by 1.8% in the 1st quarter. Monterey Private Wealth Inc. now owns 1,379 shares of the social networking company’s stock worth $670,000 after buying an additional 24 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 3.0 %

Meta Platforms stock opened at $504.22 on Monday. The firm’s 50 day moving average price is $480.00 and its two-hundred day moving average price is $455.62. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The firm has a market cap of $1.28 trillion, a PE ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

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

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In related news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last three months, insiders sold 201,557 shares of company stock valued at $97,894,296. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on META. Raymond James boosted their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research report on Wednesday, June 5th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Citigroup decreased their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Stifel Nicolaus upped their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $510.05.

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.