Capelight Capital Asset Management LP Purchases 1,000 Shares of Meta Platforms, Inc. $META

Capelight Capital Asset Management LP lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 20.0% in the first quarter, Holdings Channel.com reports. The firm owned 6,000 shares of the social networking company’s stock after purchasing an additional 1,000 shares during the quarter. Meta Platforms makes up 2.4% of Capelight Capital Asset Management LP’s holdings, making the stock its 16th biggest holding. Capelight Capital Asset Management LP’s holdings in Meta Platforms were worth $3,433,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Keybank National Association OH increased its stake in Meta Platforms by 15.7% in the 4th quarter. Keybank National Association OH now owns 133,798 shares of the social networking company’s stock worth $88,319,000 after purchasing an additional 18,169 shares during the period. WMS Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $876,000. Diversified Trust Co. grew its holdings in shares of Meta Platforms by 4.1% in the fourth quarter. Diversified Trust Co. now owns 84,059 shares of the social networking company’s stock worth $55,487,000 after purchasing an additional 3,336 shares during the last quarter. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Meta Platforms by 16.2% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 6,933 shares of the social networking company’s stock worth $5,091,000 after buying an additional 968 shares during the period. Finally, Consolidated Investment Group LLC increased its stake in shares of Meta Platforms by 61.2% in the fourth quarter. Consolidated Investment Group LLC now owns 7,900 shares of the social networking company’s stock worth $5,215,000 after buying an additional 3,000 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $615.58 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.35 and a quick ratio of 2.35. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The firm has a 50-day moving average of $600.41 and a 200 day moving average of $627.42. The company has a market cap of $1.56 trillion, a P/E ratio of 22.38, a PEG ratio of 1.06 and a beta of 1.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. During the same period in the previous year, the firm posted $6.43 EPS. The business’s revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 29.46 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s dividend payout ratio is presently 7.63%.

Trending Headlines about Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta launched Muse Image, a new AI image-generation tool inside Meta AI for consumers and businesses. The rollout could help increase engagement across Instagram, WhatsApp and other apps, while giving advertisers and creators a new reason to use Meta’s ecosystem. Meta expands generative AI tools with Muse Image rollout
• Positive Sentiment: Erste Group Bank upgraded Meta from hold to buy, adding to bullish sentiment around the stock. Meta Platforms (NASDAQ:META) Raised to “Buy” at Erste Group Bank
• Positive Sentiment: Truist Securities also reiterated a Buy view and an $840 price target, reinforcing the case that Wall Street still sees meaningful upside in META.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. This trade represents a 65.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $629.45, for a total transaction of $1,748,612.10. Following the sale, the chief operating officer owned 10,557 shares in the company, valued at approximately $6,645,103.65. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,513 shares of company stock worth $24,419,874 in the last ninety days. 13.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. Sanford C. Bernstein decreased their price objective on shares of Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Truist Financial dropped their target price on shares of Meta Platforms from $900.00 to $840.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Guggenheim cut their target price on Meta Platforms from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Raymond James Financial upgraded Meta Platforms from an “underperform” rating to an “outperform” rating in a report on Tuesday, June 2nd. Finally, Erste Group Bank raised Meta Platforms from a “hold” rating to a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $840.64.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.