Cyndeo Wealth Partners LLC Purchases 4,682 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cyndeo Wealth Partners LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,039 shares of the social networking company’s stock after purchasing an additional 4,682 shares during the quarter. Meta Platforms makes up 1.3% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 11th largest position. Cyndeo Wealth Partners LLC’s holdings in Meta Platforms were worth $20,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Conway Capital Management Inc. boosted its position in shares of Meta Platforms by 24.3% during the 1st quarter. Conway Capital Management Inc. now owns 8,524 shares of the social networking company’s stock valued at $4,913,000 after acquiring an additional 1,665 shares during the last quarter. Crane Advisory LLC boosted its position in shares of Meta Platforms by 3.9% during the 1st quarter. Crane Advisory LLC now owns 2,417 shares of the social networking company’s stock valued at $1,314,000 after acquiring an additional 90 shares during the last quarter. Stewardship Advisors LLC boosted its position in shares of Meta Platforms by 4.4% during the 1st quarter. Stewardship Advisors LLC now owns 638 shares of the social networking company’s stock valued at $368,000 after acquiring an additional 27 shares during the last quarter. Acropolis Investment Management LLC raised its holdings in shares of Meta Platforms by 4.6% during the 1st quarter. Acropolis Investment Management LLC now owns 1,271 shares of the social networking company’s stock valued at $733,000 after buying an additional 56 shares in the last quarter. Finally, Abound Wealth Management raised its holdings in shares of Meta Platforms by 197.8% during the 1st quarter. Abound Wealth Management now owns 1,903 shares of the social networking company’s stock valued at $1,097,000 after buying an additional 1,264 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total value of $577,513.05. Following the completion of the sale, the insider now directly owns 31,182 shares of the company’s stock, valued at $19,552,673.10. The trade was a 2.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,672 shares of company stock worth $55,455,647 in the last ninety days. 13.61% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $702.12 on Tuesday. The stock has a 50 day moving average of $607.90 and a 200 day moving average of $620.85. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market cap of $1.77 trillion, a PE ratio of 29.35, a PEG ratio of 1.42 and a beta of 1.26. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company earned $4.71 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s payout ratio is currently 8.19%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Rosenblatt Securities raised their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Morgan Stanley raised their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Guggenheim raised their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Citigroup reissued a “buy” rating on shares of Meta Platforms in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a “buy” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $706.88.

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.