Cynosure Group LLC Has $1.32 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cynosure Group LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 46.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,304 shares of the social networking company’s stock after selling 2,025 shares during the quarter. Cynosure Group LLC’s holdings in Meta Platforms were worth $1,319,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cypress Asset Management Inc. TX raised its stake in Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares in the last quarter. First City Capital Management Inc. raised its stake in Meta Platforms by 1.7% in the 1st quarter. First City Capital Management Inc. now owns 1,499 shares of the social networking company’s stock worth $728,000 after purchasing an additional 25 shares in the last quarter. Cedar Point Capital Partners LLC raised its stake in Meta Platforms by 11.6% in the 1st quarter. Cedar Point Capital Partners LLC now owns 681 shares of the social networking company’s stock worth $331,000 after purchasing an additional 71 shares in the last quarter. Burney Co. raised its stake in Meta Platforms by 8.4% in the 1st quarter. Burney Co. now owns 68,805 shares of the social networking company’s stock worth $33,411,000 after purchasing an additional 5,307 shares in the last quarter. Finally, Austin Wealth Management LLC raised its position in shares of Meta Platforms by 15.0% in the 1st quarter. Austin Wealth Management LLC now owns 1,535 shares of the social networking company’s stock valued at $718,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,561 shares of company stock worth $62,445,464 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.8 %

Shares of NASDAQ META opened at $569.20 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company’s 50 day moving average price is $574.12 and its 200-day moving average price is $526.03. The company has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) 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 company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Citigroup boosted their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Tigress Financial boosted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.