Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 47.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,153 shares of the social networking company’s stock after selling 7,380 shares during the period. Meta Platforms accounts for 2.3% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 19th largest holding. Cairn Investment Group Inc.’s holdings in Meta Platforms were worth $3,960,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC increased its position in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position 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 buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC grew its position in 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 purchasing an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its position in 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 purchasing an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ:META traded up $4.33 during trading on Thursday, reaching $517.45. The company’s stock had a trading volume of 4,727,801 shares, compared to its average volume of 16,405,822. 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 firm has a market cap of $1.31 trillion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The firm has a 50 day moving average of $479.18 and a 200-day moving average of $452.22.

Meta Platforms (NASDAQ:META) 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 company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Research analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders have sold a total of 232,607 shares of company stock valued at $113,147,760 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Raymond James raised their price objective on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “strong-buy” rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. KeyCorp boosted their target price on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Sanford C. Bernstein lowered their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $510.05.

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.