CAP Partners LLC Sells 123 Shares of Meta Platforms, Inc. (NASDAQ:META)

CAP Partners LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317 shares of the social networking company’s stock after selling 123 shares during the quarter. CAP Partners LLC’s holdings in Meta Platforms were worth $759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in META. Inlight Wealth Management LLC bought a new position in Meta Platforms during the first quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms during the first quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Meta Platforms during the 1st quarter valued at approximately $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $45,000. Finally, JCIC Asset Management Inc. grew its position in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after acquiring an additional 40 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $776.37 on Tuesday. Meta Platforms, Inc. has a one year low of $450.80 and a one year high of $784.75. The stock has a 50-day moving average of $704.66 and a 200 day moving average of $647.27. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same period in the previous year, the business posted $5.16 earnings per share. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s payout ratio is 7.60%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citizens Jmp increased their price objective on Meta Platforms from $750.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Raymond James Financial increased their price target on Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 31st. Benchmark increased their target price on shares of Meta Platforms from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Wells Fargo & Company increased their target price on shares of Meta Platforms from $783.00 to $811.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their target price on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $820.32.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total transaction of $373,607.34. Following the completion of the sale, the insider directly owned 25,550 shares in the company, valued at $18,392,423. The trade was a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 465 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $723.08, for a total value of $336,232.20. Following the sale, the director owned 9,342 shares of the company’s stock, valued at approximately $6,755,013.36. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,298 shares of company stock worth $116,742,790. Company insiders own 13.61% of the company’s stock.

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.