Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 443,389 shares of the social networking company’s stock after selling 10,153 shares during the period. Cibc World Market Inc.’s holdings in Meta Platforms were worth $223,566,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC boosted its stake in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.2 %

NASDAQ META opened at $524.62 on Friday. The business has a fifty day moving average price of $505.13 and a 200 day moving average price of $495.43. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market cap of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the company earned $3.23 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,054 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction that occurred on 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 owns 253,000 shares of the company’s stock, valued at $126,765,650. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Meta Platforms in a report on Thursday, September 5th. They set an “overweight” rating and a $660.00 target price on the stock. Susquehanna boosted their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Citigroup upped their price target on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price target on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four 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 company presently has an average rating of “Moderate Buy” and an average price target of $577.26.

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.