Cypress Point Wealth Management LLC Has $2.45 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cypress Point Wealth Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,190 shares of the social networking company's stock after selling 1,209 shares during the quarter. Meta Platforms accounts for approximately 0.8% of Cypress Point Wealth Management LLC's investment portfolio, making the stock its 25th biggest holding. Cypress Point Wealth Management LLC's holdings in Meta Platforms were worth $2,453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC grew its stake in Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock valued at $34,087,000 after buying an additional 808 shares in the last quarter. UMB Bank n.a. lifted its holdings in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after purchasing an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock valued at $6,686,000 after buying an additional 6,155 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its position in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock worth $5,573,000 after purchasing an additional 65 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total value of $24,195,307.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company's stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 661,312 shares of company stock valued at $407,377,422. Company insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Shares of META traded up $12.93 during trading hours on Thursday, reaching $689.42. 20,861,034 shares of the company traded hands, compared to its average volume of 15,245,674. The stock has a market capitalization of $1.74 trillion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $387.10 and a fifty-two week high of $710.79. The stock has a fifty day simple moving average of $608.52 and a 200 day simple moving average of $563.58.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period last year, the business posted $5.33 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 22.96 EPS 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several research firms have weighed in on META. Robert W. Baird boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday. KeyCorp lifted their price objective on Meta Platforms from $700.00 to $750.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup raised their target price on Meta Platforms from $645.00 to $705.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Cantor Fitzgerald increased their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $698.98.

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.