Centerpoint Advisory Group Acquires 118 Shares of Meta Platforms, Inc. (NASDAQ:META)

Centerpoint Advisory Group raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,046 shares of the social networking company’s stock after acquiring an additional 118 shares during the quarter. Centerpoint Advisory Group’s holdings in Meta Platforms were worth $603,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Verde Servicos Internacionais S.A. bought a new position in shares of Meta Platforms during the 1st quarter worth approximately $4,346,000. Flagship Harbor Advisors LLC grew its stake in shares of Meta Platforms by 4.6% in the first quarter. Flagship Harbor Advisors LLC now owns 23,805 shares of the social networking company’s stock valued at $13,720,000 after buying an additional 1,049 shares in the last quarter. Duncker Streett & Co. Inc. grew its stake in shares of Meta Platforms by 18.6% in the first quarter. Duncker Streett & Co. Inc. now owns 956 shares of the social networking company’s stock valued at $551,000 after buying an additional 150 shares in the last quarter. Hudson Value Partners LLC grew its stake in shares of Meta Platforms by 7.9% in the first quarter. Hudson Value Partners LLC now owns 2,639 shares of the social networking company’s stock valued at $1,521,000 after buying an additional 194 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Meta Platforms by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 301,208 shares of the social networking company’s stock valued at $173,604,000 after buying an additional 13,006 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $701.99, for a total value of $364,332.81. Following the transaction, the insider now owns 28,664 shares in the company, valued at $20,121,841.36. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 500 shares of Meta Platforms stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $700.38, for a total value of $350,190.00. Following the completion of the transaction, the chief executive officer now owns 85,119 shares in the company, valued at approximately $59,615,645.22. This represents a 0.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,002 shares of company stock valued at $73,353,340 over the last quarter. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 2.0%

META stock opened at $712.20 on Wednesday. The company has a market cap of $1.79 trillion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The business has a 50-day simple moving average of $625.25 and a 200 day simple moving average of $624.38. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates 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%. Meta Platforms’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Analyst Ratings Changes

Several research firms recently weighed in on META. Raymond James Financial decreased their target price on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Scotiabank decreased their target price on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research note on Monday, April 21st. Bank of America raised their target price on shares of Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $664.00 price target on shares of Meta Platforms in a report on Tuesday, June 17th. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $712.69.

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.