Cypress Capital Group Has $6.52 Million Stock Position in Meta Platforms, Inc. $META

Cypress Capital Group boosted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,878 shares of the social networking company’s stock after purchasing an additional 1,171 shares during the period. Cypress Capital Group’s holdings in Meta Platforms were worth $6,520,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after buying an additional 1,532,568 shares during the last quarter. State Street Corp increased its position in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after acquiring an additional 1,650,435 shares in the last quarter. Geode Capital Management LLC increased its position in Meta Platforms by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after acquiring an additional 682,768 shares in the last quarter. Norges Bank bought a new position in shares of Meta Platforms in the second quarter worth about $23,155,393,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,489,621 shares of the social networking company’s stock worth $10,694,644,000 after purchasing an additional 262,550 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on META shares. Rosenblatt Securities raised their price target on shares of Meta Platforms from $1,117.00 to $1,144.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Zacks Research cut Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Pivotal Research cut their price target on Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus raised their price target on Meta Platforms from $785.00 to $820.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $860.00 price objective (up from $750.00) on shares of Meta Platforms in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $847.40.

Read Our Latest Stock Analysis on META

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $714.60, for a total transaction of $369,448.20. Following the transaction, the chief operating officer directly owned 9,615 shares in the company, valued at approximately $6,870,879. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $618.28, for a total value of $358,602.40. Following the completion of the sale, the director owned 5,587 shares of the company’s stock, valued at $3,454,330.36. This trade represents a 9.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 39,594 shares of company stock valued at $24,325,407. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $661.46 on Friday. The firm’s 50 day simple moving average is $656.76 and its 200 day simple moving average is $695.12. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The firm had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. During the same quarter in the previous year, the company earned $8.02 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were given a $0.525 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 8.94%.

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About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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