Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,039 shares of the social networking company's stock after purchasing an additional 4,682 shares during the period. Meta Platforms accounts for 1.3% of Cyndeo Wealth Partners LLC's investment portfolio, making the stock its 11th biggest position. Cyndeo Wealth Partners LLC's holdings in Meta Platforms were worth $20,195,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Valley Financial Group Inc. grew its position in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC raised its holdings 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. Meredith Wealth Planning lifted its stake in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC lifted its stake in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after acquiring an additional 15 shares during the period. Finally, Riverwater Partners LLC lifted its stake in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after acquiring an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $614.97, for a total transaction of $373,901.76. Following the completion of the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at approximately $4,205,164.86. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $699.27, for a total transaction of $325,160.55. Following the sale, the director now owns 9,807 shares of the company's stock, valued at approximately $6,857,740.89. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,512 shares of company stock worth $73,590,232 over the last three months. Insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Susquehanna decreased their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Benchmark decreased their price objective on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $710.00.

Meta Platforms Price Performance

META traded down $1.46 during midday trading on Thursday, hitting $695.77. 9,635,650 shares of the company traded hands, compared to its average volume of 14,501,973. 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 company has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.71 and a beta of 1.26. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The business has a 50 day simple moving average of $615.32 and a two-hundred day simple moving average of $622.60.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders 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 dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

About Meta Platforms

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.