Ceeto Capital Group LLC Sells 1,000 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ceeto Capital Group LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,411 shares of the social networking company’s stock after selling 1,000 shares during the period. Meta Platforms accounts for approximately 1.7% of Ceeto Capital Group LLC’s portfolio, making the stock its 8th biggest holding. Ceeto Capital Group LLC’s holdings in Meta Platforms were worth $4,084,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $12.29 during trading on Friday, reaching $465.70. The stock had a trading volume of 14,222,388 shares, compared to its average volume of 13,931,730. The stock has a market cap of $1.18 trillion, a PE ratio of 26.75, a P/E/G ratio of 1.20 and a beta of 1.21. The firm’s 50 day moving average price is $493.20 and its two-hundred day moving average price is $476.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate 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 forecast that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The disclosure for this sale can be found here. Insiders sold a total of 311,348 shares of company stock worth $154,678,120 in the last three months. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on META shares. Deutsche Bank Aktiengesellschaft cut their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group cut their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Rosenblatt Securities raised their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Oppenheimer raised their price objective on Meta Platforms from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company raised their price objective on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $534.87.

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.