Cypress Wealth Services LLC Has $2.69 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Cypress Wealth Services LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,600 shares of the social networking company’s stock after acquiring an additional 307 shares during the quarter. Cypress Wealth Services LLC’s holdings in Meta Platforms were worth $2,693,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. JGP Wealth Management LLC lifted its position in Meta Platforms by 7.1% during the fourth quarter. JGP Wealth Management LLC now owns 1,575 shares of the social networking company’s stock worth $922,000 after purchasing an additional 105 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Meta Platforms by 0.6% during the 4th quarter. Ritholtz Wealth Management now owns 31,382 shares of the social networking company’s stock valued at $18,374,000 after purchasing an additional 202 shares during the last quarter. Mirador Capital Partners LP increased its holdings in shares of Meta Platforms by 0.7% during the fourth quarter. Mirador Capital Partners LP now owns 23,079 shares of the social networking company’s stock worth $13,513,000 after buying an additional 167 shares in the last quarter. Guardian Financial Partners LLC bought a new position in Meta Platforms in the fourth quarter valued at about $334,000. Finally, Cordant Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 0.2 %

META opened at $612.77 on Friday. The company has a market cap of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40. The business’s 50-day moving average price is $596.78 and its 200-day moving average price is $556.39. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm 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, equities analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares in the company, valued at $20,215,915.50. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total transaction of $22,133,083.36. The disclosure for this sale can be found here. Insiders sold 496,174 shares of company stock valued at $301,408,499 in the last 90 days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Scotiabank lowered their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Monness Crespi & Hardt boosted their target price on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America boosted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their target price on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently 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.