Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Princeton Capital Management LLC

Princeton Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 139.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,662 shares of the social networking company’s stock after buying an additional 1,551 shares during the period. Princeton Capital Management LLC’s holdings in Meta Platforms were worth $1,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter worth about $28,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $45,000. JCIC Asset Management Inc. boosted its holdings in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after purchasing an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $47,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on META. Robert W. Baird upped their price objective on Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. TD Cowen increased their price target on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Cantor Fitzgerald raised their price objective on Meta Platforms from $807.00 to $828.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Meta Platforms from $664.00 to $783.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Finally, TD Securities dropped their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $754.07.

Meta Platforms Stock Up 0.7%

Shares of NASDAQ META opened at $717.63 on Tuesday. The business has a 50-day moving average price of $694.03 and a 200 day moving average price of $642.71. The stock has a market cap of $1.80 trillion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52-week low of $450.80 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.71 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the transaction, the director directly owned 9,342 shares in the company, valued at approximately $6,755,013.36. This trade represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $716.10, for a total value of $371,655.90. Following the sale, the insider owned 26,069 shares of the company’s stock, valued at $18,668,010.90. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,944 shares of company stock worth $104,965,570 over the last three months. 13.61% of the stock is currently 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.