Cypress Funds LLC Sells 20,851 Shares of Meta Platforms, Inc. $META

Cypress Funds LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,476 shares of the social networking company’s stock after selling 20,851 shares during the period. Meta Platforms makes up 6.7% of Cypress Funds LLC’s holdings, making the stock its 7th biggest position. Cypress Funds LLC’s holdings in Meta Platforms were worth $51,022,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $23,155,393,000. Laurel Wealth Advisors LLC boosted its holdings in Meta Platforms by 73,443.1% during the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after buying an additional 8,405,558 shares in the last quarter. State Street Corp grew its position in Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after buying an additional 1,650,435 shares during the period. Vanguard Group Inc. increased its holdings in 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 in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Meta Platforms by 103.5% in the second quarter. Corient Private Wealth LLC now owns 1,998,624 shares of the social networking company’s stock worth $1,475,166,000 after acquiring an additional 1,016,667 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Meta Platforms from $849.00 to $856.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America raised their price objective on Meta Platforms from $810.00 to $885.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Evercore increased their target price on Meta Platforms from $875.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, January 29th. Finally, Pivotal Research reduced their price objective on shares of Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $844.44.

View Our Latest Stock Report on META

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 172 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $639.18, for a total transaction of $109,938.96. Following the completion of the transaction, the chief operating officer directly owned 17,965 shares of the company’s stock, valued at $11,482,868.70. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 8,089 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $631.24, for a total value of $5,106,100.36. Following the transaction, the chief technology officer directly owned 2,841 shares in the company, valued at approximately $1,793,352.84. This represents a 74.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,791 shares of company stock worth $17,835,648 over the last ninety days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of META opened at $637.25 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a 50-day simple moving average of $656.47 and a two-hundred day simple moving average of $688.15. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The stock has a market cap of $1.61 trillion, a PE ratio of 27.12, a P/E/G ratio of 1.12 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

Meta Platforms Company Profile

(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.

Further Reading

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

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