Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cedar Brook Financial Partners LLC

Cedar Brook Financial Partners LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 78.0% in the third quarter, HoldingsChannel reports. The firm owned 354 shares of the social networking company’s stock after selling 1,256 shares during the period. Meta Platforms accounts for about 29.1% of Cedar Brook Financial Partners LLC’s holdings, making the stock its 3rd biggest holding. Cedar Brook Financial Partners LLC’s holdings in Meta Platforms were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Keystone Wealth Services LLC lifted its position in Meta Platforms by 25.3% during the first quarter. Keystone Wealth Services LLC now owns 1,624 shares of the social networking company’s stock valued at $789,000 after purchasing an additional 328 shares during the period. Central Valley Advisors LLC lifted its position in Meta Platforms by 1.1% during the first quarter. Central Valley Advisors LLC now owns 5,817 shares of the social networking company’s stock valued at $2,825,000 after purchasing an additional 64 shares during the period. Annex Advisory Services LLC lifted its position in Meta Platforms by 345.5% during the first quarter. Annex Advisory Services LLC now owns 51,430 shares of the social networking company’s stock valued at $24,973,000 after purchasing an additional 39,885 shares during the period. Gilman Hill Asset Management LLC purchased a new position in Meta Platforms in the first quarter valued at $4,539,000. Finally, Factory Mutual Insurance Co. increased its holdings in Meta Platforms by 2.2% in the first quarter. Factory Mutual Insurance Co. now owns 330,590 shares of the social networking company’s stock valued at $160,528,000 after buying an additional 7,200 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the transaction, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the transaction, the chief operating officer now owns 5,559 shares of the company’s stock, valued at $2,573,817. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,324 shares of company stock valued at $132,218,368 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on META shares. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Stock Performance

NASDAQ:META opened at $582.01 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 33.43, a PEG ratio of 1.45 and a beta of 1.22. The company has a 50 day moving average price of $547.72 and a 200 day moving average price of $509.22. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Meta Platforms’s payout ratio is currently 11.49%.

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.