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

Cypress Wealth Services LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

Several other institutional investors also recently modified their holdings of META. Fiera Capital Corp raised its position in Meta Platforms by 35.1% in the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares in the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of Meta Platforms by 5.0% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 877 shares of the social networking company’s stock valued at $442,000 after purchasing an additional 42 shares during the period. GDS Wealth Management raised its holdings in shares of Meta Platforms by 11.5% in the 2nd quarter. GDS Wealth Management now owns 23,107 shares of the social networking company’s stock worth $11,651,000 after buying an additional 2,391 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Meta Platforms by 2.5% during the 2nd quarter. Primecap Management Co. CA now owns 706,450 shares of the social networking company’s stock worth $356,206,000 after buying an additional 17,225 shares during the period. Finally, DHK Financial Advisors Inc. acquired a new stake in Meta Platforms in the 2nd quarter valued at $252,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Roth Mkm lifted their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, Raymond James restated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a research report on Monday, November 25th. Two research 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Meta Platforms Trading Up 0.2 %

META opened at $612.77 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization 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. The firm’s fifty day simple moving average is $596.78 and its 200 day simple moving average is $556.39. Meta Platforms, Inc. has a 12 month low of $370.95 and a 12 month high of $638.40.

Meta Platforms (NASDAQ:META) last released its earnings results 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total value of $547,108.70. Following the transaction, the insider now directly owns 31,105 shares in the company, valued at $18,804,216.70. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock valued at $301,408,499 in the last quarter. Company insiders own 13.71% of the company’s stock.

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.