Cypress Point Wealth Management LLC Has $3.09 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cypress Point Wealth Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 39.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,399 shares of the social networking company’s stock after purchasing an additional 1,526 shares during the quarter. Meta Platforms accounts for 1.2% of Cypress Point Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding. Cypress Point Wealth Management LLC’s holdings in Meta Platforms were worth $3,091,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its stake in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Meta Platforms by 22.4% in the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after purchasing an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX boosted its position in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after buying an additional 3,224 shares during the last quarter. SilverOak Wealth Management LLC grew its holdings in Meta Platforms by 4.9% during the first quarter. SilverOak Wealth Management LLC now owns 5,000 shares of the social networking company’s stock worth $2,428,000 after buying an additional 233 shares in the last quarter. Finally, Stonebrook Private Inc. raised its position in Meta Platforms by 4.2% in the 1st quarter. Stonebrook Private Inc. now owns 3,943 shares of the social networking company’s stock valued at $1,915,000 after buying an additional 160 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,714 shares of company stock valued at $103,811,069. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $584.82 on Wednesday. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.30 and a beta of 1.22. 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 business has a 50-day simple moving average of $563.02 and a 200 day simple moving average of $517.29. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on META shares. Roth Mkm lifted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Loop Capital increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Tigress Financial boosted their target price on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company reduced their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

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.