Cumberland Partners Ltd Has $64.70 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Cumberland Partners Ltd lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,023 shares of the social networking company’s stock after selling 6,774 shares during the period. Meta Platforms comprises 4.5% of Cumberland Partners Ltd’s holdings, making the stock its 2nd biggest holding. Cumberland Partners Ltd’s holdings in Meta Platforms were worth $64,699,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. bought a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in Meta Platforms during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,200 shares of company stock valued at $84,533,106. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on META shares. Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Raymond James upped their price target on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, JMP Securities upped their target price on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

Meta Platforms stock opened at $554.08 on Friday. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company’s 50 day moving average price is $568.11 and its two-hundred day moving average price is $519.97. The stock has a market cap of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

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.