Constitution Capital LLC Sells 35 Shares of Meta Platforms, Inc. (NASDAQ:META)

Constitution Capital LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,705 shares of the social networking company’s stock after selling 35 shares during the period. Meta Platforms accounts for 0.6% of Constitution Capital LLC’s investment portfolio, making the stock its 28th largest holding. Constitution Capital LLC’s holdings in Meta Platforms were worth $998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the period. Janney Montgomery Scott LLC raised its holdings in Meta Platforms by 1.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after buying an additional 5,594 shares during the last quarter. Finally, M&G PLC boosted its position in Meta Platforms by 14.6% during the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after buying an additional 91,773 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 18,644 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the transaction, the chief financial officer now owns 46,769 shares in the company, valued at $25,888,979.95. This represents a 28.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock valued at $301,408,499 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $612.77 on Friday. The company has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $370.95 and a 52-week high of $638.40. The business has a 50-day simple moving average of $596.78 and a two-hundred day simple moving average of $556.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several research firms have recently issued reports on META. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley upped their price target on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Citigroup raised their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird increased their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $650.05.

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.