C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 3,382 Shares of Meta Platforms, Inc. (NASDAQ:META)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 90.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,119 shares of the social networking company’s stock after purchasing an additional 3,382 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Meta Platforms were worth $3,457,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of META. Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the period. Capital World Investors increased its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the period. Capital International Investors increased its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Norges Bank purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $11,285,855,000. Finally, Capital Research Global Investors lifted its position in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp lifted their price target on Meta Platforms from $475.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Barclays lowered their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $515.64.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders have sold a total of 294,768 shares of company stock valued at $146,314,257 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 2.7 %

Shares of META traded down $14.45 on Thursday, hitting $520.24. 3,036,304 shares of the stock traded hands, compared to its average volume of 16,078,013. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a market capitalization of $1.32 trillion, a PE ratio of 30.71, a P/E/G ratio of 1.37 and a beta of 1.21. The business has a 50 day simple moving average of $490.20 and a 200 day simple moving average of $464.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.15 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.