Cahaba Wealth Management Inc. Sells 38 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cahaba Wealth Management Inc. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 732 shares of the social networking company’s stock after selling 38 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Meta Platforms were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC lifted its position in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. MBM Wealth Consultants LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth $26,000. Stephens Investment Management Group LLC purchased a new position in shares of Meta Platforms during the second quarter valued at $30,000. Beaird Harris Wealth Management LLC increased its stake in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the period. Finally, PayPay Securities Corp increased its stake in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total value of $15,498,965.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $505.29, for a total value of $295,594.65. Following the completion of the transaction, the insider now directly owns 39,568 shares of the company’s stock, valued at $19,993,314.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $492.14, for a total value of $15,498,965.02. The disclosure for this sale can be found here. Insiders have sold 1,502,805 shares of company stock worth $703,056,383 in the last quarter. 14.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Canaccord Genuity Group raised their price target on Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group raised their price target on Meta Platforms from $414.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America raised their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Jefferies Financial Group lifted their target price on Meta Platforms from $425.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, JMP Securities lifted their target price on Meta Platforms from $410.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $496.35.

Read Our Latest Analysis on Meta Platforms

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $497.37 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $473.50 and a two-hundred day moving average of $381.00. The stock has a market cap of $1.27 trillion, a P/E ratio of 33.38, a PEG ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $523.57.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is currently 13.42%.

Meta Platforms Profile

(Free Report)

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

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