Cumberland Advisors Inc. Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cumberland Advisors Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,450 shares of the social networking company’s stock after acquiring an additional 250 shares during the quarter. Meta Platforms comprises about 1.9% of Cumberland Advisors Inc.’s holdings, making the stock its 14th biggest holding. Cumberland Advisors Inc.’s holdings in Meta Platforms were worth $4,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth about $38,000. 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 acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the sale, the insider now directly owns 33,292 shares of the company’s stock, valued at approximately $19,641,281.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the transaction, the insider now directly owns 33,292 shares of the company’s stock, valued at $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,816 shares of company stock worth $132,421,828. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday. KeyCorp boosted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird increased their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Roth Mkm boosted their price target on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Evercore ISI upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $617.37.

Meta Platforms Stock Performance

NASDAQ META opened at $576.93 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The business’s 50-day simple moving average is $545.36 and its 200-day simple moving average is $508.09. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.14, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.23 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

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.