Cary Street Partners Investment Advisory LLC Has $2.38 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Cary Street Partners Investment Advisory LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 48.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,125 shares of the social networking company's stock after buying an additional 1,355 shares during the period. Meta Platforms accounts for about 1.4% of Cary Street Partners Investment Advisory LLC's investment portfolio, making the stock its 10th biggest holding. Cary Street Partners Investment Advisory LLC's holdings in Meta Platforms were worth $2,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Financial Group Inc. raised its stake in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the last quarter. ABLE Financial Group LLC grew its holdings in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after acquiring an additional 15 shares during the period. Mosaic Family Wealth Partners LLC raised its position in Meta Platforms by 1.2% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after acquiring an additional 17 shares in the last quarter. Finally, Orin Green Financial LLC raised its position in Meta Platforms by 2.2% during the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the sale, the insider owned 237,205 shares in the company, valued at $184,059,219.75. This represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,024 shares of company stock valued at $199,983,159 in the last 90 days. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

META opened at $769.30 on Friday. The stock's 50-day moving average price is $714.53 and its 200 day moving average price is $651.01. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $784.75. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.58 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same quarter in the prior year, the company earned $5.16 earnings per share. The business's quarterly revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 7.60%.

Analyst Ratings Changes

Several equities research analysts have commented on META shares. Piper Sandler upped their price objective on Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Citizens Jmp boosted their target price on shares of Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. KeyCorp raised their price target on shares of Meta Platforms from $800.00 to $905.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Canaccord Genuity Group lifted their price objective on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, HSBC raised shares of Meta Platforms from a "hold" rating to a "buy" rating and increased their target price for the stock from $610.00 to $900.00 in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

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.

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