610 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Cedar Point Capital Partners LLC

Cedar Point Capital Partners LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 610 shares of the social networking company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC boosted its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $39,000. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Finally, PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.4 %

NASDAQ META traded up $1.91 on Friday, reaching $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The business has a 50 day moving average price of $494.48 and a 200 day moving average price of $404.27. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, analysts forecast that Meta Platforms, Inc. will post 20.33 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.45%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 6,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $400.00, for a total transaction of $2,600,000.00. Following the completion of the sale, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the sale, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 65,600 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $400.50, for a total value of $26,272,800.00. The disclosure for this sale can be found here. Insiders sold a total of 1,349,148 shares of company stock worth $649,552,559 in the last 90 days. 13.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on META shares. Jefferies Financial Group lowered their price target on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a report on Thursday. Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday. Susquehanna lifted their price target on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Wells Fargo & Company lowered their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, Bank of America boosted their target price on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

About Meta Platforms

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.