CGN Advisors LLC Increases Position in Meta Platforms, Inc. (NASDAQ:META)

CGN Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,410 shares of the social networking company’s stock after purchasing an additional 790 shares during the quarter. CGN Advisors LLC’s holdings in Meta Platforms were worth $6,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Stonekeep Investments LLC boosted its stake in Meta Platforms by 2.1% in the fourth quarter. Stonekeep Investments LLC now owns 1,548 shares of the social networking company’s stock valued at $906,000 after acquiring an additional 32 shares in the last quarter. BTS Asset Management Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $341,000. Sanibel Captiva Trust Company Inc. boosted its position in shares of Meta Platforms by 9.9% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 31,791 shares of the social networking company’s stock worth $18,614,000 after purchasing an additional 2,876 shares in the last quarter. Howard Financial Services LTD. grew its stake in Meta Platforms by 73.3% during the 4th quarter. Howard Financial Services LTD. now owns 1,775 shares of the social networking company’s stock worth $1,039,000 after buying an additional 751 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its position in Meta Platforms by 14.8% during the 4th quarter. Alhambra Investment Management LLC now owns 1,239 shares of the social networking company’s stock valued at $725,000 after buying an additional 160 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $604.69, for a total transaction of $21,721,069.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total transaction of $547,108.70. Following the completion of the sale, the insider now directly owns 31,105 shares of the company’s stock, valued at $18,804,216.70. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 496,174 shares of company stock worth $301,408,499. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $612.77 on Monday. The business has a 50 day moving average price of $596.78 and a 200 day moving average price of $557.04. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on META. Roth Mkm boosted their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Raymond James restated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research note on Monday, November 25th. Susquehanna lifted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their target price on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $650.05.

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.