Cottonwood Capital Advisors LLC Sells 32 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cottonwood Capital Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 907 shares of the social networking company’s stock after selling 32 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Meta Platforms were worth $481,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. Richardson Financial Services Inc. increased its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. Quest Partners LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms in the first quarter valued at approximately $44,000. Finally, Clear Investment Research LLC grew its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $514.89, for a total value of $8,599,692.78. Following the sale, the chief executive officer now owns 89,927 shares of the company’s stock, valued at approximately $46,302,513.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the completion of the transaction, the chief executive officer now directly owns 89,927 shares of the company’s stock, valued at approximately $46,302,513.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peggy Alford sold 1,052 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the sale, the director now directly owns 6,168 shares in the company, valued at approximately $2,954,472. The disclosure for this sale can be found here. In the last three months, insiders sold 349,174 shares of company stock valued at $175,146,777. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on META shares. BNP Paribas began coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price for the company. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird raised their target price on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $572.51.

Meta Platforms Trading Up 1.9 %

Shares of NASDAQ:META traded up $10.02 during mid-day trading on Thursday, reaching $536.78. The stock had a trading volume of 8,247,194 shares, compared to its average volume of 16,342,830. The firm has a market cap of $1.36 trillion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The firm has a 50 day simple moving average of $498.92 and a two-hundred day simple moving average of $485.97. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm posted $3.23 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.