CWA Asset Management Group LLC Acquires 3,102 Shares of Meta Platforms, Inc. (NASDAQ:META)

CWA Asset Management Group LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 29.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,476 shares of the social networking company’s stock after purchasing an additional 3,102 shares during the quarter. CWA Asset Management Group LLC’s holdings in Meta Platforms were worth $4,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Quest Partners LLC bought a new position in shares of Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC lifted its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.99 during midday trading on Tuesday, hitting $474.50. The company’s stock had a trading volume of 3,850,105 shares, compared to its average volume of 17,076,840. The business’s 50 day simple moving average is $480.56 and its 200 day simple moving average is $432.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market cap of $1.20 trillion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $258.88 and a 12-month high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, analysts forecast that Meta Platforms, Inc. will post 20.19 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders sold a total of 713,380 shares of company stock worth $351,867,744 over the last three months. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on META. Oppenheimer dropped their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Robert W. Baird decreased their target price on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Truist Financial dropped their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Stifel Nicolaus boosted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Check Out Our Latest Research Report on META

Meta Platforms Company Profile

(Free Report)

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.

Further Reading

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

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