Cascade Investment Advisors Inc. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 23.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,326 shares of the social networking company's stock after selling 996 shares during the quarter. Meta Platforms accounts for approximately 1.3% of Cascade Investment Advisors Inc.'s portfolio, making the stock its 25th largest holding. Cascade Investment Advisors Inc.'s holdings in Meta Platforms were worth $1,917,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $47,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total value of $328,506.97. Following the completion of the sale, the chief operating officer now owns 10,438 shares of the company's stock, valued at approximately $6,632,409.58. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,056 shares of company stock valued at $35,074,903. Company insiders own 13.61% of the company's stock.
Meta Platforms Stock Up 3.6%
NASDAQ META traded up $23.41 during mid-day trading on Monday, reaching $670.90. The stock had a trading volume of 15,706,506 shares, compared to its average volume of 14,486,878. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a market cap of $1.69 trillion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a fifty day moving average price of $578.56 and a 200 day moving average price of $611.28.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 EPS. The firm's revenue was up 16.1% on a year-over-year basis. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Analysts Set New Price Targets
META has been the subject of a number of research analyst reports. Truist Financial raised their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Monness Crespi & Hardt lifted their price target on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Benchmark reduced their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $701.05.
Check Out Our Latest Stock Analysis on Meta Platforms
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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