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

Constitution Capital LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,705 shares of the social networking company’s stock after selling 35 shares during the quarter. Meta Platforms comprises approximately 0.6% of Constitution Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Constitution Capital LLC’s holdings in Meta Platforms were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the third quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META opened at $612.77 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a fifty day simple moving average of $596.78 and a 200 day simple moving average of $556.39. Meta Platforms, Inc. has a 1 year low of $370.95 and a 1 year high of $638.40. The company has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

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

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total value of $22,133,083.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. 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 90 days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on META. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America lifted their price target on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt upped their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their target price on Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.