CIBC Private Wealth Group LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

CIBC Private Wealth Group LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 452,606 shares of the social networking company's stock after selling 9,167 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Meta Platforms were worth $160,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC lifted its stake in Meta Platforms by 3.9% during the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company's stock worth $237,000 after acquiring an additional 25 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Meta Platforms by 0.5% in the 4th quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company's stock valued at $1,730,000 after acquiring an additional 25 shares during the last quarter. American National Bank increased its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. American National Bank now owns 1,590 shares of the social networking company's stock valued at $563,000 after acquiring an additional 25 shares during the last quarter. WoodTrust Financial Corp increased its holdings in shares of Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company's stock valued at $548,000 after acquiring an additional 27 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners increased its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company's stock valued at $1,616,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ META traded up $10.66 on Monday, hitting $477.49. The company had a trading volume of 11,268,509 shares, compared to its average volume of 17,199,787. Meta Platforms, Inc. has a 12-month low of $258.88 and a 12-month high of $531.49. The business has a 50 day moving average of $480.56 and a two-hundred day moving average of $432.84. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.21 trillion, a P/E ratio of 27.43, a PEG ratio of 1.21 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analysts' expectations of $36.28 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.19 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, June 14th. Meta Platforms's dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Sanford C. Bernstein dropped their price objective on Meta Platforms from $590.00 to $565.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group dropped their price target on Meta Platforms from $585.00 to $540.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Wolfe Research decreased their target price on Meta Platforms from $530.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their target price on Meta Platforms from $555.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.80.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the firm's stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $471.67, for a total value of $194,328.04. Following the sale, the chief operating officer now directly owns 14,964 shares in the company, valued at approximately $7,058,069.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares of the company's stock, valued at approximately $15,794,965.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $471.67, for a total value of $194,328.04. Following the transaction, the chief operating officer now directly owns 14,964 shares of the company's stock, valued at $7,058,069.88. The disclosure for this sale can be found here. Insiders have sold a total of 713,965 shares of company stock worth $352,157,319 in the last three months. 13.71% of the stock is owned by company 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.

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