Cavalier Investments LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cavalier Investments LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 78.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,297 shares of the social networking company’s stock after selling 4,775 shares during the quarter. Cavalier Investments LLC’s holdings in Meta Platforms were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of META. Park Place Capital Corp increased its holdings in shares of Meta Platforms by 10.6% during the first quarter. Park Place Capital Corp now owns 3,718 shares of the social networking company’s stock valued at $1,805,000 after acquiring an additional 357 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Meta Platforms during the first quarter valued at about $345,000. Congress Wealth Management LLC DE increased its holdings in shares of Meta Platforms by 34.3% during the first quarter. Congress Wealth Management LLC DE now owns 62,486 shares of the social networking company’s stock valued at $30,342,000 after acquiring an additional 15,949 shares in the last quarter. WESPAC Advisors SoCal LLC increased its holdings in shares of Meta Platforms by 43.6% during the first quarter. WESPAC Advisors SoCal LLC now owns 2,858 shares of the social networking company’s stock valued at $1,388,000 after acquiring an additional 868 shares in the last quarter. Finally, Iams Wealth Management LLC increased its holdings in shares of Meta Platforms by 135.9% during the first quarter. Iams Wealth Management LLC now owns 2,062 shares of the social networking company’s stock valued at $998,000 after acquiring an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,818 shares of company stock worth $132,569,993. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of META stock opened at $591.80 on Thursday. The stock’s fifty day moving average is $554.49 and its two-hundred day moving average is $512.18. 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 firm has a market capitalization of $1.50 trillion, a P/E ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $296.86 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.23 EPS. Research analysts expect that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

META has been the topic of several recent analyst reports. TD Securities upped their price objective on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. JMP Securities increased their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, KeyCorp increased their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

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.