Cavalry Management Group LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 62.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 660 shares of the social networking company’s stock after selling 1,104 shares during the period. Meta Platforms makes up approximately 4.6% of Cavalry Management Group LLC’s investment portfolio, making the stock its 10th biggest position. Cavalry Management Group LLC’s holdings in Meta Platforms were worth $333,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the first quarter worth $44,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Performance
Shares of META opened at $572.81 on Thursday. The stock has a market capitalization of $1.45 trillion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The firm’s fifty day simple moving average is $521.88 and its two-hundred day simple moving average is $501.35. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $583.04.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.
Insider Activity at Meta Platforms
In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $512.00, for a total value of $210,944.00. Following the transaction, the chief operating officer now owns 6,795 shares of the company’s stock, valued at approximately $3,479,040. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the sale, the chief executive officer now owns 151,918 shares in the company, valued at approximately $81,104,462.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00. Following the sale, the chief operating officer now owns 6,795 shares of the company’s stock, valued at approximately $3,479,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 308,462 shares of company stock valued at $162,308,065. 13.71% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
META has been the subject of several recent analyst reports. Bank of America upped their target price on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Pivotal Research initiated coverage on shares of Meta Platforms in a report on Tuesday. They set a “buy” rating and a $780.00 price target for the company. TD Cowen upped their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Loop Capital upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, TD Securities upped their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $598.08.
Read Our Latest Stock 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.
See Also
- Five stocks we like better than Meta Platforms
- How to Use Stock Screeners to Find Stocks
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- How to Use the MarketBeat Dividend Calculator
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.