Cornerstone Planning Group LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cornerstone Planning Group LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 669 shares of the social networking company’s stock after purchasing an additional 83 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Meta Platforms were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. International Assets Investment Management LLC grew its holdings in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms in the 2nd quarter valued at about $595,152,000. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Meta Platforms by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after buying an additional 788,131 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $554.08 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a PEG ratio of 1.28 and a beta of 1.22. The firm has a fifty day moving average of $568.11 and a 200-day moving average of $520.60. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. UBS Group increased their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Susquehanna boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Raymond James boosted their price objective on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $528.38, for a total transaction of $478,183.90. Following the completion of the sale, the insider now owns 40,532 shares in the company, valued at $21,416,298.16. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,200 shares of company stock valued at $84,533,106 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.