Cyndeo Wealth Partners LLC Has $24.45 Million Holdings in Meta Platforms, Inc. $META

Cyndeo Wealth Partners LLC grew its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.4% during the third quarter, HoldingsChannel.com reports. The firm owned 33,296 shares of the social networking company’s stock after buying an additional 3,404 shares during the period. Meta Platforms makes up about 1.3% of Cyndeo Wealth Partners LLC’s holdings, making the stock its 9th biggest holding. Cyndeo Wealth Partners LLC’s holdings in Meta Platforms were worth $24,452,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Infusive Asset Management Inc. increased its position in shares of Meta Platforms by 10.7% in the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after buying an additional 2,285 shares in the last quarter. Spirepoint Private Client LLC increased its holdings in shares of Meta Platforms by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after acquiring an additional 109 shares in the last quarter. Diversify Advisory Services LLC raised its position in shares of Meta Platforms by 10.4% during the second quarter. Diversify Advisory Services LLC now owns 55,431 shares of the social networking company’s stock worth $43,790,000 after purchasing an additional 5,224 shares during the period. CW Advisors LLC lifted its holdings in shares of Meta Platforms by 27.8% during the 2nd quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock valued at $130,467,000 after purchasing an additional 38,432 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after purchasing an additional 20,912 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 6,875 shares of the stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the completion of the sale, the chief financial officer owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. This represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,038 shares of company stock valued at $25,675,535 in the last ninety days. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on META shares. Rosenblatt Securities restated a “buy” rating and set a $1,117.00 target price on shares of Meta Platforms in a report on Friday, December 5th. TD Cowen cut their price objective on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. KeyCorp lowered their target price on Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Truist Financial dropped their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Wedbush reduced their price objective on Meta Platforms from $920.00 to $880.00 and set an “outperform” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $818.59.

Check Out Our Latest Stock Analysis on META

Key Headlines Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Price Performance

Shares of NASDAQ META opened at $661.50 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The business has a 50-day moving average of $658.67 and a 200-day moving average of $707.27. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.38 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.03 earnings per share. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio is presently 9.28%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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