Cim LLC Has $27.56 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Cim LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,062 shares of the social networking company's stock after selling 524 shares during the quarter. Meta Platforms accounts for approximately 3.9% of Cim LLC's holdings, making the stock its 3rd biggest holding. Cim LLC's holdings in Meta Platforms were worth $27,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the 4th quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus set a $775.00 price target on shares of Meta Platforms in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Moffett Nathanson raised their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, UBS Group raised their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven 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 a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Stock Performance

NASDAQ META traded down $2.83 during mid-day trading on Friday, reaching $642.22. 6,830,466 shares of the stock were exchanged, compared to its average volume of 14,440,081. The company has a market capitalization of $1.61 trillion, a P/E ratio of 26.88, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business's 50 day moving average is $578.25 and its 200-day moving average is $610.43.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.71 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the sale, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,664 shares of company stock worth $35,484,670 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

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.