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

Cyndeo Wealth Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 15.4% in the first quarter, HoldingsChannel.com reports. The firm owned 35,039 shares of the social networking company’s stock after buying an additional 4,682 shares during the quarter. Meta Platforms makes up 1.3% of Cyndeo Wealth Partners LLC’s holdings, making the stock its 11th biggest holding. Cyndeo Wealth Partners LLC’s holdings in Meta Platforms were worth $20,195,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Suvretta Capital Management LLC grew its position in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares during the period. Skye Global Management LP raised its stake in shares of Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $459,000. Kovitz Investment Group Partners LLC raised its stake in shares of Meta Platforms by 255.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after acquiring an additional 110,040 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $702.12 on Tuesday. 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 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The business’s 50 day simple moving average is $607.90 and its 200-day simple moving average is $620.85.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 1,462 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the sale, the chief executive officer now directly owns 139,538 shares of the company’s stock, valued at approximately $97,834,277.94. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total transaction of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares of the company’s stock, valued at approximately $4,205,164.86. This trade represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,672 shares of company stock worth $55,455,647. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Wedbush lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Rosenblatt Securities lifted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. One research 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $706.88.

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.