Cherrydale Wealth Management LLC Cuts Stake in Meta Platforms, Inc. (NASDAQ:META)

Cherrydale Wealth Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,784 shares of the social networking company’s stock after selling 1,057 shares during the period. Meta Platforms makes up 0.6% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 18th biggest position. Cherrydale Wealth Management LLC’s holdings in Meta Platforms were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of META. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its holdings in Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC lifted its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after buying an additional 661,923 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on META shares. UBS Group boosted their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Guggenheim increased their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Morgan Stanley lifted their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ META opened at $612.77 on Monday. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The business has a 50 day simple moving average of $596.78 and a 200 day simple moving average of $557.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52 week low of $370.95 and a 52 week high of $638.40.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total value of $547,108.70. Following the completion of the sale, the insider now directly owns 31,105 shares in the company, valued at approximately $18,804,216.70. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 496,174 shares of company stock worth $301,408,499. 13.71% of the stock is currently owned by insiders.

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.