Constitution Capital LLC Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 46.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,740 shares of the social networking company’s stock after acquiring an additional 550 shares during the quarter. Meta Platforms makes up about 0.5% of Constitution Capital LLC’s investment portfolio, making the stock its 25th largest position. Constitution Capital LLC’s holdings in Meta Platforms were worth $996,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on META shares. Scotiabank started coverage on Meta Platforms in a research report on Friday. They set a “sector perform” rating and a $585.00 price target on the stock. Rosenblatt Securities lifted their price objective on Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research note on Thursday, September 26th. JMP Securities raised their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research note on Thursday, September 26th. Finally, Piper Sandler boosted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $611.49.

Meta Platforms Trading Up 1.1 %

Meta Platforms stock traded up $6.41 during midday trading on Monday, reaching $596.36. The stock had a trading volume of 1,261,817 shares, compared to its average volume of 15,290,755. The stock’s 50-day simple moving average is $538.12 and its 200 day simple moving average is $505.67. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.51 trillion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 EPS. Analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $474.86, for a total transaction of $195,642.32. Following the completion of the sale, the chief operating officer now owns 5,971 shares in the company, valued at approximately $2,835,389.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,443 shares of company stock worth $133,105,284. 13.71% of the stock is currently owned by corporate insiders.

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.