Capstone Wealth Management Group LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

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

Other hedge funds have also added to or reduced their stakes in the company. Sharper & Granite LLC boosted its stake in shares of Meta Platforms by 3.3% during the fourth quarter. Sharper & Granite LLC now owns 2,379 shares of the social networking company’s stock valued at $1,393,000 after purchasing an additional 76 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of Meta Platforms by 1.3% during the fourth quarter. Ignite Planners LLC now owns 7,650 shares of the social networking company’s stock valued at $4,625,000 after purchasing an additional 98 shares in the last quarter. David J Yvars Group boosted its stake in shares of Meta Platforms by 14.1% during the fourth quarter. David J Yvars Group now owns 1,661 shares of the social networking company’s stock valued at $973,000 after purchasing an additional 205 shares in the last quarter. Tlwm boosted its stake in shares of Meta Platforms by 1.9% during the fourth quarter. Tlwm now owns 4,140 shares of the social networking company’s stock valued at $2,424,000 after purchasing an additional 78 shares in the last quarter. Finally, Cardinal Point Capital Management ULC boosted its stake in shares of Meta Platforms by 98.0% during the fourth quarter. Cardinal Point Capital Management ULC now owns 1,202 shares of the social networking company’s stock valued at $704,000 after purchasing an additional 595 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 3.8 %

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

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on META. TD Cowen increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein increased their target price 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. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Bank of America increased their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms 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 completion of the sale, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 495,682 shares of company stock worth $301,101,199 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.