Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,900 shares of the social networking company’s stock after selling 1,210 shares during the quarter. Meta Platforms makes up approximately 3.7% of Cumberland Partners Ltd’s portfolio, making the stock its 3rd biggest position. Cumberland Partners Ltd’s holdings in Meta Platforms were worth $43,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Bank of Stockton lifted its stake in Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after purchasing an additional 400 shares during the last quarter. Signify Wealth purchased a new stake in Meta Platforms during the fourth quarter worth approximately $228,000. Illinois Municipal Retirement Fund lifted its stake in Meta Platforms by 1.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after purchasing an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its stake in Meta Platforms by 1.5% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after purchasing an additional 164 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $501.18, for a total value of $245,578.20. Following the completion of the sale, the chief operating officer now owns 7,089 shares in the company, valued at $3,552,865.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $501.18, for a total value of $245,578.20. Following the completion of the sale, the chief operating officer now owns 7,089 shares in the company, valued at $3,552,865.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,392,425 shares of company stock worth $666,533,986. 14.03% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock traded up $14.37 during trading hours on Tuesday, hitting $496.10. The stock had a trading volume of 14,985,989 shares, compared to its average volume of 17,131,002. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49. The stock’s fifty day moving average is $495.52 and its two-hundred day moving average is $402.50.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $3.00 EPS. As a group, analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Analyst Ratings Changes

META has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. The Goldman Sachs Group boosted their target price on Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Susquehanna boosted their price objective on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $520.28.

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.