Cigna Investments Inc. New Has $12.95 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Cigna Investments Inc. New lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,621 shares of the social networking company’s stock after selling 269 shares during the period. Meta Platforms accounts for 2.3% of Cigna Investments Inc. New’s holdings, making the stock its 6th biggest position. Cigna Investments Inc. New’s holdings in Meta Platforms were worth $12,950,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of META. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. boosted its stake in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth about $46,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. TD Cowen upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. UBS Group increased their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna increased their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ META opened at $567.16 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $308.33 and a 12-month high of $602.95. The stock’s fifty day simple moving average is $555.99 and its two-hundred day simple moving average is $513.25.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Buying and Selling

In other Meta Platforms news, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the transaction, the director now owns 6,168 shares in the company, valued at approximately $2,954,472. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 420 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at approximately $310,890,460.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peggy Alford sold 1,052 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total value of $503,908.00. Following the sale, the director now owns 6,168 shares of the company’s stock, valued at approximately $2,954,472. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 251,092 shares of company stock worth $132,865,496 in the last 90 days. 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.