Capstone Wealth Management LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Capstone Wealth Management LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 566 shares of the social networking company's stock, valued at approximately $331,000.

Other hedge funds have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $41,000. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms during the 3rd quarter valued at approximately $49,000. Institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ META traded up $11.04 during mid-day trading on Friday, reaching $647.49. 19,039,689 shares of the company were exchanged, compared to its average volume of 9,840,293. The firm has a 50-day moving average of $601.93 and a 200 day moving average of $560.33. Meta Platforms, Inc. has a 1 year low of $385.66 and a 1 year high of $652.00. 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 stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio is presently 9.42%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cantor Fitzgerald decreased their price objective on Meta Platforms from $730.00 to $720.00 and set an "overweight" rating on the stock in a report on Wednesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. Raymond James lifted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. KeyCorp upped their target price on shares of Meta Platforms from $655.00 to $700.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, Susquehanna lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $654.20.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 18,644 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the sale, the chief financial officer now directly owns 46,769 shares in the company, valued at approximately $25,888,979.95. This represents a 28.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 in the last quarter. 13.71% of the stock is currently owned by corporate 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.