Cedar Point Capital Partners LLC Purchases New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cedar Point Capital Partners LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 610 shares of the social networking company’s stock, valued at approximately $216,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Meta Platforms by 55.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock worth $2,591,602,000 after purchasing an additional 3,093,715 shares during the last quarter. Cerity Partners LLC lifted its stake in Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after purchasing an additional 2,953,704 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new stake in Meta Platforms during the third quarter worth $834,315,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

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

Meta Platforms Stock Up 0.4 %

NASDAQ META traded up $1.91 during trading hours on Friday, hitting $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a 52 week low of $229.85 and a 52 week high of $531.49. The company has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company’s 50-day simple moving average is $494.48 and its two-hundred day simple moving average is $404.27.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a $0.50 dividend. 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%.

Analyst Ratings Changes

A number of brokerages have recently commented on META. Wolfe Research dropped their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America increased their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group dropped their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

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.