Cypress Wealth Services LLC Purchases 87 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cypress Wealth Services LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,137 shares of the social networking company’s stock after purchasing an additional 87 shares during the period. Cypress Wealth Services LLC’s holdings in Meta Platforms were worth $2,009,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of META. Sherbrooke Park Advisers LLC bought a new stake in Meta Platforms during the 3rd quarter valued at $655,000. Schonfeld Strategic Advisors LLC increased its position in shares of Meta Platforms by 156.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 401,290 shares of the social networking company’s stock valued at $120,471,000 after buying an additional 244,603 shares during the period. Waverly Advisors LLC lifted its holdings in shares of Meta Platforms by 55.2% in the third quarter. Waverly Advisors LLC now owns 4,985 shares of the social networking company’s stock worth $1,497,000 after buying an additional 1,772 shares in the last quarter. Blackstone Inc. bought a new position in shares of Meta Platforms in the third quarter valued at approximately $30,021,000. Finally, Third Point LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $330,231,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.2 %

Meta Platforms stock traded down $6.25 during trading hours on Friday, hitting $513.31. The stock had a trading volume of 5,731,067 shares, compared to its average volume of 16,363,230. The stock’s 50-day moving average price is $479.53 and its 200-day moving average price is $452.69. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.30 trillion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the sale, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold 233,512 shares of company stock worth $113,597,536 over the last three months. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on META shares. Barclays decreased their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group decreased their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Rosenblatt Securities increased their target price on Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Wedbush dropped their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.