Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. cut its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 95.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the social networking company's stock after selling 173,396 shares during the quarter. Meta Platforms comprises 0.7% of Cantor Fitzgerald L. P.'s portfolio, making the stock its 23rd biggest position. Cantor Fitzgerald L. P.'s holdings in Meta Platforms were worth $3,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock worth $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after buying an additional 42 shares during the period. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock worth $33,000 after buying an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company's stock worth $36,000 after buying an additional 45 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Meta Platforms stock traded up $1.37 during mid-day trading on Wednesday, hitting $508.84. 11,965,207 shares of the company's stock traded hands, compared to its average volume of 16,801,721. Meta Platforms, Inc. has a one year low of $268.32 and a one year high of $531.49. 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 50 day moving average price of $480.99 and a 200 day moving average price of $439.92. The company has a market cap of $1.29 trillion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS 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 company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, June 14th. Meta Platforms's dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on Meta Platforms from $610.00 to $575.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. TD Cowen decreased their target price on Meta Platforms from $590.00 to $530.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price target on Meta Platforms from $535.00 to $480.00 and set an "overweight" rating for the company in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Meta Platforms from $540.00 to $500.00 and set a "buy" rating for the company in a 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 assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus price target of $510.41.

Insider Transactions at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the business's stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now owns 630,293 shares of the company's stock, valued at approximately $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the transaction, the chief executive officer now directly owns 301,478 shares in the company, valued at approximately $151,697,700.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 514,525 shares of company stock valued at $253,108,340. Corporate insiders own 13.71% of the company's stock.

Meta Platforms 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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