CGN Advisors LLC Trims Position in Meta Platforms, Inc. (NASDAQ:META)

CGN Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,253 shares of the social networking company’s stock after selling 1,157 shares during the period. CGN Advisors LLC’s holdings in Meta Platforms were worth $5,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its stake in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after buying an additional 1,049,121 shares during the period. Capital World Investors raised its stake in Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new position in Meta Platforms during the fourth quarter worth approximately $19,949,512,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,135 shares of company stock worth $34,481,779 in the last ninety days. 13.61% of the stock is owned by insiders.

Meta Platforms Trading Up 3.6%

Meta Platforms stock opened at $670.90 on Tuesday. The firm’s 50-day moving average is $579.76 and its 200-day moving average is $612.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a market cap of $1.69 trillion, a P/E ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Susquehanna cut their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. KeyCorp increased their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. UBS Group increased their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Bank of America increased their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $701.05.

About Meta Platforms

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.