Cornerstone Wealth Management LLC Has $5.19 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cornerstone Wealth Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,687 shares of the social networking company’s stock after selling 153 shares during the period. Cornerstone Wealth Management LLC’s holdings in Meta Platforms were worth $5,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter valued at $11,285,855,000. International Assets Investment Management LLC boosted its holdings 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 worth $1,752,900,000 after buying an additional 4,908,251 shares during the period. Capital Research Global Investors grew its stake in Meta Platforms by 17.2% in 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 buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management raised its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% during 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 acquiring an additional 3,104,550 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 0.1 %

Shares of META stock opened at $509.96 on Friday. 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 stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.32 and a beta of 1.21. The stock has a 50-day moving average of $482.42 and a 200-day moving average of $458.78.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on META shares. BNP Paribas began coverage on Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Stifel Nicolaus upped their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Rosenblatt Securities lifted their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Oppenheimer lowered their price target 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 given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $511.27.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the transaction, the chief operating officer now directly owns 7,579 shares in the company, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders have sold a total of 251,905 shares of company stock worth $123,528,726 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.