Cloud Capital Management LLC Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

Cloud Capital Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 408 shares of the social networking company's stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms in the first quarter worth approximately $28,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the fourth quarter valued at approximately $45,000. Institutional investors own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total value of $374,494.83. Following the sale, the insider owned 27,107 shares of the company's stock, valued at approximately $19,559,597.99. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,792 shares of company stock valued at $105,466,325. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

META opened at $727.24 on Friday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.83 trillion, a PE ratio of 28.36, a P/E/G ratio of 1.80 and a beta of 1.28. The firm has a 50 day moving average of $672.36 and a two-hundred day moving average of $633.41.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the firm earned $4.71 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on META shares. Barclays cut their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Scotiabank decreased their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Citigroup increased their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Bank of America raised their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday. Five equities research analysts have rated the stock with 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, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $727.95.

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.

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