Constitution Capital LLC Has $1.67 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 70.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,905 shares of the social networking company’s stock after buying an additional 1,200 shares during the period. Meta Platforms accounts for approximately 0.9% of Constitution Capital LLC’s investment portfolio, making the stock its 24th biggest position. Constitution Capital LLC’s holdings in Meta Platforms were worth $1,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.9%

Meta Platforms stock opened at $697.71 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The firm has a 50 day moving average price of $587.67 and a two-hundred day moving average price of $614.84. The firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business earned $4.71 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $595.00, for a total value of $547,995.00. Following the transaction, the insider now owns 33,024 shares in the company, valued at approximately $19,649,280. This trade represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,171 shares of company stock valued at $35,163,457 in the last quarter. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Pivotal Research dropped their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. DA Davidson dropped their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada restated an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $702.48.

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.