Cumberland Partners Ltd Has $43.50 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cumberland Partners Ltd lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,900 shares of the social networking company’s stock after selling 1,210 shares during the quarter. Meta Platforms comprises approximately 3.7% of Cumberland Partners Ltd’s holdings, making the stock its 3rd largest position. Cumberland Partners Ltd’s holdings in Meta Platforms were worth $43,502,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in META. Vanguard Group Inc. boosted its stake in Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after purchasing an additional 1,733,182 shares during the period. FMR LLC boosted its stake in Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the period. Morgan Stanley raised its holdings in Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares in the last quarter. Northern Trust Corp raised its holdings in Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after acquiring an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after acquiring an additional 111,735 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the sale, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,392,425 shares of company stock worth $666,533,986. Corporate insiders own 14.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company cut their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 price target on shares of Meta Platforms in a report on Monday. Oppenheimer upped their price target on Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James increased their target price on Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $520.28.

Meta Platforms Trading Up 3.0 %

Shares of NASDAQ:META traded up $14.37 during midday trading on Tuesday, hitting $496.10. The company had a trading volume of 14,985,989 shares, compared to its average volume of 17,131,002. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.26 trillion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.22 and a beta of 1.20. The firm has a fifty day simple moving average of $495.52 and a 200 day simple moving average of $402.50.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the company earned $3.00 EPS. On average, analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Dividend Announcement

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

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.