Cyndeo Wealth Partners LLC increased its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,357 shares of the social networking company’s stock after acquiring an additional 986 shares during the quarter. Meta Platforms comprises about 1.2% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 12th biggest position. Cyndeo Wealth Partners LLC’s holdings in Meta Platforms were worth $17,775,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in shares of Meta Platforms by 2.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 16,977 shares of the social networking company’s stock worth $9,940,000 after acquiring an additional 387 shares during the last quarter. Accel Wealth Management grew its position in Meta Platforms by 3.2% in the 4th quarter. Accel Wealth Management now owns 720 shares of the social networking company’s stock worth $422,000 after purchasing an additional 22 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Meta Platforms by 3.6% during the 4th quarter. Fifth Third Bancorp now owns 736,387 shares of the social networking company’s stock worth $431,162,000 after purchasing an additional 25,260 shares during the period. Chemung Canal Trust Co. bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $5,589,000. Finally, AM Investment Strategies LLC grew its position in Meta Platforms by 1.8% during the fourth quarter. AM Investment Strategies LLC now owns 26,050 shares of the social networking company’s stock worth $15,253,000 after buying an additional 459 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 news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares in the company, valued at $5,842,668.52. The trade was a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 602,612 shares of company stock valued at $368,414,542. 13.71% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Read Our Latest Analysis on META
Meta Platforms Price Performance
META opened at $674.33 on Wednesday. The company has a fifty day simple moving average of $606.30 and a 200 day simple moving average of $562.78. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.70 trillion, a P/E ratio of 31.76, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $387.10 and a 12 month high of $682.58.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.96 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.
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.
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