Monument Capital Management Purchases 131 Shares of Meta Platforms, Inc. (NASDAQ:META)

Monument Capital Management increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 835 shares of the social networking company’s stock after acquiring an additional 131 shares during the quarter. Monument Capital Management’s holdings in Meta Platforms were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of META. Kennedy Capital Management LLC boosted its holdings in Meta Platforms by 18.8% in the third quarter. Kennedy Capital Management LLC now owns 13,847 shares of the social networking company’s stock worth $4,157,000 after acquiring an additional 2,189 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Meta Platforms by 8.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,272,127 shares of the social networking company’s stock valued at $381,867,000 after purchasing an additional 98,788 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Meta Platforms by 39.8% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 4,802 shares of the social networking company’s stock worth $1,442,000 after purchasing an additional 1,367 shares in the last quarter. Tenere Capital LLC grew its position in Meta Platforms by 60.5% during the 3rd quarter. Tenere Capital LLC now owns 45,816 shares of the social networking company’s stock worth $13,754,000 after purchasing an additional 17,273 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its position in Meta Platforms by 59.3% during the 3rd quarter. Dana Investment Advisors Inc. now owns 78,473 shares of the social networking company’s stock worth $23,558,000 after purchasing an additional 29,200 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.1 %

META opened at $509.96 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $531.49. The company has a market cap of $1.29 trillion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.21. The company has a 50-day moving average price of $481.05 and a 200 day moving average price of $458.42.

Meta Platforms (NASDAQ:META) last announced its earnings results 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. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 0.39%. Meta Platforms’s payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $516.51, for a total value of $253,089.90. Following the transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at $4,167,719.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $516.51, for a total transaction of $253,089.90. Following the transaction, the chief operating officer now owns 8,069 shares in the company, valued at $4,167,719.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction 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 directly owns 38,398 shares in the company, valued at approximately $20,043,756. 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 in the last 90 days. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on META shares. JPMorgan Chase & Co. decreased their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus lifted their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group dropped their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Guggenheim dropped their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $511.27.

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.