Cyr Financial Inc. Buys Shares of 1,032 Meta Platforms, Inc. (NASDAQ:META)

Cyr Financial Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,032 shares of the social networking company’s stock, valued at approximately $604,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. AMF Tjanstepension AB boosted its holdings in shares of Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after acquiring an additional 112,047 shares during the period. Czech National Bank boosted its holdings in shares of Meta Platforms by 6.6% during the third quarter. Czech National Bank now owns 445,052 shares of the social networking company’s stock valued at $254,766,000 after acquiring an additional 27,453 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Meta Platforms by 26.6% during the third quarter. GAMMA Investing LLC now owns 30,902 shares of the social networking company’s stock valued at $17,690,000 after acquiring an additional 6,500 shares during the period. Herbst Group LLC boosted its holdings in shares of Meta Platforms by 13.4% during the third quarter. Herbst Group LLC now owns 8,437 shares of the social networking company’s stock valued at $4,830,000 after acquiring an additional 999 shares during the period. Finally, WealthBridge Capital Management LLC boosted its holdings in shares of Meta Platforms by 15.9% during the third quarter. WealthBridge Capital Management LLC now owns 4,023 shares of the social networking company’s stock valued at $2,303,000 after acquiring an additional 552 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $697.46 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.76 trillion, a PE ratio of 29.16, a PEG ratio of 1.47 and a beta of 1.20. The firm’s 50 day moving average price is $616.25 and its 200 day moving average price is $568.60. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $710.79.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 25.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. BMO Capital Markets boosted their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Wolfe Research upped their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. DA Davidson upped their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Scotiabank upped their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Finally, Susquehanna upped their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $710.83.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 12,975 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the transaction, the chief executive officer now directly owns 210,971 shares in the company, valued at $146,918,094.69. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 673,878 shares of company stock worth $416,269,904 over the last three months. Corporate insiders own 13.71% of the company’s stock.

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.