Monument Capital Management Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Monument Capital Management increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 835 shares of the social networking company’s stock after purchasing an additional 131 shares during the period. Monument Capital Management’s holdings in Meta Platforms were worth $405,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Meta Platforms during the fourth quarter worth about $11,285,855,000. International Assets Investment Management LLC boosted its position in shares of Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management grew its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Robert W. Baird cut their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Wedbush lowered their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, BNP Paribas started coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $511.27.

Insider Buying and Selling

In other news, CTO Andrew Bosworth sold 5,058 shares of the business’s 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 sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold a total of 252,395 shares of company stock valued at $123,781,816 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.1 %

Shares of META opened at $509.96 on Thursday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $481.05 and its 200-day moving average price is $458.42. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21.

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

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.