Cherrydale Wealth Management LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cherrydale Wealth Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,693 shares of the social networking company’s stock after acquiring an additional 228 shares during the period. Meta Platforms makes up approximately 0.8% of Cherrydale Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. Cherrydale Wealth Management LLC’s holdings in Meta Platforms were worth $1,793,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of META. Stone House Investment Management LLC boosted its position 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 buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its position in Meta Platforms by 68.9% in the third 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 stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the completion of the transaction, the chief executive officer now directly owns 253,000 shares in the company, valued at approximately $126,765,650. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the transaction, the director now owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $501.05, for a total value of $1,029,156.70. Following the transaction, the chief executive officer now directly owns 253,000 shares in the company, valued at approximately $126,765,650. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,638 shares of company stock worth $115,205,996. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.8 %

Shares of NASDAQ:META opened at $498.91 on Tuesday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $478.58 and a two-hundred day moving average of $450.54. The stock has a market cap of $1.27 trillion, a P/E ratio of 28.66, a PEG ratio of 1.30 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Sanford C. Bernstein dropped their target price on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group dropped their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company decreased their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $510.05.

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.