Constitution Capital LLC Invests $578,000 in Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the first quarter, Holdings Channel.com reports. The firm purchased 1,190 shares of the social networking company’s stock, valued at approximately $578,000.

Other hedge funds also recently modified their holdings of the company. Trexquant Investment LP lifted its stake in Meta Platforms by 24.3% in the third quarter. Trexquant Investment LP now owns 30,830 shares of the social networking company’s stock valued at $9,255,000 after acquiring an additional 6,019 shares during the last quarter. Private Advisory Group LLC boosted its stake in Meta Platforms by 2.1% during the third quarter. Private Advisory Group LLC now owns 66,307 shares of the social networking company’s stock worth $19,906,000 after buying an additional 1,388 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Meta Platforms by 2.0% during the 3rd quarter. Bamco Inc. NY now owns 240,570 shares of the social networking company’s stock valued at $72,222,000 after acquiring an additional 4,779 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Meta Platforms by 51.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 136,994 shares of the social networking company’s stock valued at $41,127,000 after purchasing an additional 46,292 shares during the period. Finally, Staley Capital Advisers Inc. grew its position in Meta Platforms by 1.9% in the third quarter. Staley Capital Advisers Inc. now owns 1,975 shares of the social networking company’s stock valued at $593,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.3 %

Shares of META opened at $519.56 on Friday. 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, Inc. has a 52 week low of $274.38 and a 52 week high of $531.49. The stock has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.33 and a beta of 1.21. The stock has a fifty day moving average of $479.53 and a 200-day moving average of $452.69.

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

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total value of $216,354.60. Following the completion of the sale, the chief operating officer now directly owns 6,599 shares of the company’s stock, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Insiders have sold a total of 233,512 shares of company stock worth $113,597,536 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on META shares. Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wolfe Research dropped their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. KeyCorp increased their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.