Cairn Investment Group Inc. Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Cairn Investment Group Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 15,533 shares of the social networking company’s stock after selling 270 shares during the quarter. Meta Platforms comprises approximately 3.4% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 5th largest holding. Cairn Investment Group Inc.’s holdings in Meta Platforms were worth $5,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC lifted its holdings in 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 buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the period. Quest Partners LLC purchased a new stake in Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on META. TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Oppenheimer decreased their price objective on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, UBS Group decreased their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $510.41.

View Our Latest Stock Report on Meta Platforms

Meta Platforms Price Performance

META stock traded down $0.80 during trading on Friday, hitting $492.96. The stock had a trading volume of 9,380,745 shares, compared to its average volume of 11,276,715. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a twelve month low of $258.88 and a twelve month high of $531.49. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 28.31, a PEG ratio of 1.28 and a beta of 1.21. The company’s 50-day moving average price is $480.52 and its two-hundred day moving average price is $436.44.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, research analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas Clegg sold 1,135 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $535,549.75. Following the sale, the insider now directly owns 8,753 shares in the company, valued at approximately $4,130,103.05. The disclosure for this sale can be found here. Insiders have sold 604,890 shares of company stock valued at $297,429,900 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

About Meta Platforms

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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