Cambridge Advisors Inc. Lowers Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cambridge Advisors Inc. lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,584 shares of the social networking company’s stock after selling 25 shares during the quarter. Cambridge Advisors Inc.’s holdings in Meta Platforms were worth $1,740,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Capital World Investors boosted its stake in shares of Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley boosted its stake in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Capital International Investors boosted its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Finally, Norges Bank purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $486.75, for a total transaction of $238,507.50. Following the sale, the chief operating officer now directly owns 8,559 shares in the company, valued at approximately $4,166,093.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total value of $283,725.00. Following the sale, the insider now directly owns 38,983 shares in the company, valued at approximately $18,906,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $486.75, for a total transaction of $238,507.50. Following the completion of the sale, the chief operating officer now owns 8,559 shares in the company, valued at $4,166,093.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,512 shares of company stock worth $113,597,536. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $504.22 on Friday. The firm’s fifty day moving average price is $480.00 and its 200 day moving average price is $453.93. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup decreased their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Barclays decreased their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, UBS Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $510.05.

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.