Cypress Point Wealth Management LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 22.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,190 shares of the social networking company’s stock after selling 1,209 shares during the period. Meta Platforms accounts for approximately 0.8% of Cypress Point Wealth Management LLC’s holdings, making the stock its 25th biggest position. Cypress Point Wealth Management LLC’s holdings in Meta Platforms were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of META. Lindenwold Advisors INC lifted its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after buying an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC raised its stake in shares of Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares in the last quarter. Finally, Cherrydale Wealth Management LLC raised its stake in shares of Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Insider Activity
In other news, CFO Susan J. Li sold 18,644 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the transaction, the chief financial officer now directly owns 46,769 shares of the company’s stock, valued at $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The disclosure for this sale can be found here. Insiders have sold a total of 661,312 shares of company stock valued at $407,377,422 in the last 90 days. 13.71% of the stock is owned by company insiders.
Meta Platforms Trading Up 0.3 %
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same period in the previous year, the firm posted $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The firm 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.
Analysts Set New Price Targets
A number of research firms have recently commented on META. Citigroup lifted their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Raymond James lifted their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $655.41.
View Our Latest Research Report on Meta Platforms
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.
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