555 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Capstone Wealth Management Group LLC

Capstone Wealth Management Group LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 555 shares of the social networking company’s stock, valued at approximately $325,000.

A number of other hedge funds also recently added to or reduced their stakes in META. Fiera Capital Corp raised its holdings in Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Meta Platforms by 2.3% in the 2nd quarter. Prosperity Consulting Group LLC now owns 6,510 shares of the social networking company’s stock worth $3,283,000 after purchasing an additional 146 shares during the period. SilverOak Wealth Management LLC grew its position in Meta Platforms by 1.7% in the 2nd quarter. SilverOak Wealth Management LLC now owns 5,086 shares of the social networking company’s stock worth $2,565,000 after purchasing an additional 86 shares during the period. Lyell Wealth Management LP grew its position in Meta Platforms by 8.4% in the 2nd quarter. Lyell Wealth Management LP now owns 48,480 shares of the social networking company’s stock worth $24,445,000 after purchasing an additional 3,756 shares during the period. Finally, Williams Financial LLC bought a new stake in Meta Platforms in the 2nd quarter worth approximately $6,650,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 3.8 %

Shares of NASDAQ META opened at $617.12 on Thursday. The firm’s 50-day moving average price is $595.02 and its 200-day moving average price is $554.81. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s payout ratio is 9.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Morgan Stanley boosted their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the transaction, the chief operating officer now directly owns 11,120 shares in the company, valued at approximately $6,456,828. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 495,682 shares of company stock worth $301,101,199. Insiders own 13.71% of the company’s stock.

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.