Cherrydale Wealth Management LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cherrydale Wealth Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,784 shares of the social networking company's stock after selling 1,057 shares during the quarter. Meta Platforms makes up approximately 0.6% of Cherrydale Wealth Management LLC's holdings, making the stock its 18th largest holding. Cherrydale Wealth Management LLC's holdings in Meta Platforms were worth $1,630,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Lindenwold Advisors INC raised its stake in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after acquiring an additional 17 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in Meta Platforms by 1.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock worth $625,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC raised its position in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock worth $1,595,000 after buying an additional 18 shares during the period. Finally, Kozak & Associates Inc. increased its stake in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after buying an additional 18 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $1.47 during trading hours on Monday, reaching $612.77. The stock had a trading volume of 17,239,131 shares, compared to its average volume of 10,812,479. The stock's 50 day moving average is $596.78 and its 200 day moving average is $557.04. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The firm has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results 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. The company 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%. Equities analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now directly owns 10,707 shares of the company's stock, valued at $6,147,531.12. This trade represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold a total of 496,174 shares of company stock worth $301,408,499 over the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a "buy" rating in a report on Monday, January 6th. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Susquehanna boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a research report on Thursday, October 31st. TD Cowen raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Two 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $650.05.

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.