Fort Point Capital Partners LLC Has $444,000 Stake in Meta Platforms, Inc. $META

Fort Point Capital Partners LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 87.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 715 shares of the social networking company’s stock after selling 4,889 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Meta Platforms were worth $444,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of META. Westchester Capital Management Inc. acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $26,000. RHL Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $29,000. Key Capital Management INC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $48,000. Finally, Entrust Financial LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $725.00 price objective (down from $825.00) on shares of Meta Platforms in a report on Thursday, April 30th. Wall Street Zen cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Citizens Jmp restated a “market outperform” rating and set a $900.00 price objective on shares of Meta Platforms in a report on Tuesday, April 21st. TD Cowen decreased their price objective on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, KeyCorp restated an “overweight” rating and set a $760.00 price objective on shares of Meta Platforms in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $840.60.

Key Stories Impacting Meta Platforms

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

• Positive Sentiment: Meta is expanding its AI infrastructure globally, including a new AI-enabled data center partnership in India with Reliance Industries, reinforcing confidence in its long-term artificial intelligence strategy.
• Positive Sentiment: The company launched Instagram Plus globally, an optional subscription product that could help diversify revenue beyond advertising.
• Positive Sentiment: Analysts and commentary from Morgan Stanley, Zacks, and others continued to describe Meta as a high-quality growth and compounder stock, with recent earnings still viewed as strong.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 7,847 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $607.83, for a total transaction of $4,769,642.01. Following the sale, the chief technology officer directly owned 414 shares of the company’s stock, valued at approximately $251,641.62. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 837 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $629.29, for a total transaction of $526,715.73. Following the sale, the chief operating officer directly owned 12,986 shares in the company, valued at $8,171,959.94. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 39,170 shares of company stock valued at $24,218,565. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META opened at $566.98 on Monday. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The firm has a fifty day simple moving average of $621.15 and a 200 day simple moving average of $636.05. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.00 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The business had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. During the same quarter in the prior year, the company posted $6.43 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. Research analysts forecast that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, June 15th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Meta Platforms’s dividend payout ratio is 7.63%.

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.