Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Cypress Wealth Services LLC

Cypress Wealth Services LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 4,293 shares of the social networking company’s stock after purchasing an additional 163 shares during the quarter. Cypress Wealth Services LLC’s holdings in Meta Platforms were worth $2,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors boosted its holdings in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors boosted its holdings in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC boosted its holdings in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. KeyCorp lifted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Barclays upped their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $608.58.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $474.86, for a total transaction of $195,642.32. Following the transaction, the chief operating officer now directly owns 5,971 shares in the company, valued at approximately $2,835,389.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 266,412 shares of company stock worth $140,058,708. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.3 %

Meta Platforms stock traded down $1.83 during trading on Thursday, hitting $588.68. 1,018,717 shares of the company were exchanged, compared to its average volume of 15,362,240. The business’s 50 day moving average is $534.36 and its 200 day moving average is $504.36. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95. The company has a market capitalization of $1.49 trillion, a P/E ratio of 33.92, a PEG ratio of 1.39 and a beta of 1.22. 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 (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 EPS. Analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

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