Cardinal Point Capital Management ULC Purchases 595 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cardinal Point Capital Management ULC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 98.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,202 shares of the social networking company’s stock after acquiring an additional 595 shares during the period. Cardinal Point Capital Management ULC’s holdings in Meta Platforms were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of META. Myecfo LLC grew its holdings in Meta Platforms by 3.2% during the 4th quarter. Myecfo LLC now owns 767 shares of the social networking company’s stock worth $449,000 after acquiring an additional 24 shares during the last quarter. GSG Advisors LLC lifted its holdings in shares of Meta Platforms by 5.1% during the fourth quarter. GSG Advisors LLC now owns 1,818 shares of the social networking company’s stock worth $1,065,000 after purchasing an additional 89 shares during the period. PCA Investment Advisory Services Inc. grew its stake in shares of Meta Platforms by 3.6% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 903 shares of the social networking company’s stock worth $529,000 after purchasing an additional 31 shares during the last quarter. Global Financial Private Client LLC increased its holdings in Meta Platforms by 9.7% in the fourth quarter. Global Financial Private Client LLC now owns 4,059 shares of the social networking company’s stock valued at $2,377,000 after purchasing an additional 360 shares during the period. Finally, Ayrshire Capital Management LLC bought a new position in Meta Platforms during the 4th quarter worth $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 2.3 %

META opened at $594.25 on Wednesday. Meta Platforms, Inc. has a fifty-two week low of $358.61 and a fifty-two week high of $638.40. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 27.99, a PEG ratio of 1.36 and a beta of 1.19. The company’s 50-day moving average is $595.02 and its 200 day moving average is $554.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.34%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 12,975 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $615.41, for a total value of $7,984,944.75. Following the transaction, the chief executive officer now directly owns 381,290 shares in the company, valued at $234,649,678.90. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,427 shares of company stock worth $256,996,450 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Pivotal Research increased their price target on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America increased their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. KeyCorp increased their price objective on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $650.05.

About Meta Platforms

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.