North Capital Inc. Invests $1.40 Million in Meta Platforms, Inc. (NASDAQ:META)

North Capital Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,425 shares of the social networking company’s stock, valued at approximately $1,398,000. Meta Platforms comprises approximately 1.3% of North Capital Inc.’s investment portfolio, making the stock its 11th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in META. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter worth approximately $19,949,512,000. GAMMA Investing LLC grew its position in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock worth $13,517,178,000 after buying an additional 23,417,803 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $2,243,603,000. Northern Trust Corp grew its position in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Meta Platforms by 712.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company’s stock worth $1,462,589,000 after buying an additional 2,225,186 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Scotiabank decreased their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Loop Capital lifted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Citigroup lifted their target price on Meta Platforms from $690.00 to $803.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Finally, Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $719.29.

Meta Platforms Stock Down 0.1%

Shares of NASDAQ:META opened at $718.35 on Tuesday. The business’s 50-day moving average is $662.26 and its 200-day moving average is $631.21. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 1.76 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $737.00, for a total value of $382,503.00. Following the sale, the insider owned 27,626 shares in the company, valued at approximately $20,360,362. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,756 shares of company stock valued at $104,720,878 over the last three months. 13.61% of the stock is currently owned by insiders.

Meta Platforms 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.