Cornerstone Wealth Group LLC Buys 368 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cornerstone Wealth Group LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,290 shares of the social networking company’s stock after purchasing an additional 368 shares during the quarter. Meta Platforms accounts for approximately 0.9% of Cornerstone Wealth Group LLC’s holdings, making the stock its 24th biggest holding. Cornerstone Wealth Group LLC’s holdings in Meta Platforms were worth $11,295,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC increased its position in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Meta Platforms by 14.6% during the third quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock worth $2,471,822,000 after purchasing an additional 550,852 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now owns 30,581 shares of the company’s stock, valued at $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on META shares. DA Davidson boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday. Morgan Stanley lifted their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. BMO Capital Markets upped their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

Meta Platforms Trading Up 1.6 %

Meta Platforms stock opened at $687.00 on Friday. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 1.18 and a beta of 1.19. The firm has a 50-day moving average of $611.00 and a 200-day moving average of $564.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same quarter in the previous year, the firm earned $5.33 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s payout ratio is 9.42%.

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.