CGN Advisors LLC Has $6.10 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

CGN Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,410 shares of the social networking company's stock after purchasing an additional 790 shares during the period. CGN Advisors LLC's holdings in Meta Platforms were worth $6,095,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Fiera Capital Corp increased its position in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company's stock worth $13,751,000 after buying an additional 7,089 shares during the last quarter. Kendall Capital Management boosted its stake in shares of Meta Platforms by 2.8% during the 2nd quarter. Kendall Capital Management now owns 1,753 shares of the social networking company's stock worth $884,000 after acquiring an additional 47 shares in the last quarter. Intrepid Financial Planning Group LLC acquired a new position in shares of Meta Platforms during the 2nd quarter valued at about $202,000. WCG Wealth Advisors LLC raised its stake in shares of Meta Platforms by 1.3% in the 2nd quarter. WCG Wealth Advisors LLC now owns 21,669 shares of the social networking company's stock valued at $10,926,000 after acquiring an additional 277 shares in the last quarter. Finally, Riverview Capital Advisers LLC lifted its holdings in Meta Platforms by 8.5% in the 2nd quarter. Riverview Capital Advisers LLC now owns 843 shares of the social networking company's stock worth $425,000 after purchasing an additional 66 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock traded up $1.47 during trading hours on Monday, reaching $612.77. 17,239,131 shares of the company were exchanged, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock's fifty day moving average is $596.78 and its two-hundred day moving average is $557.04. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have commented on META. Monness Crespi & Hardt increased their price target on Meta Platforms from $620.00 to $660.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Mizuho upped their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. JMP Securities raised their price target on Meta Platforms from $660.00 to $750.00 and gave the company a "market outperform" rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley boosted their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $650.05.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares of the company's stock, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is currently owned by insiders.

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.