Cavalry Management Group LLC owns $333,000 in Meta Platforms, Inc. (NASDAQ:META)

VaselineOctober 4, 2024

0 5 minutes read

Cavalry Management Group LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 62.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 660 shares of the social networking company’s stock after selling 1,104 shares during the period. Meta Platforms makes up about 4.6% of Cavalry Management Group LLC’s investment portfolio, making the stock its 10th largest position. Cavalry Management Group LLC’s holdings in Meta Platforms were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its stake in Meta Platforms by 95.6% in the first 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms in the 1st quarter worth $44,000. 79.91% of shares are currently owned by institutional investors.

Performance of meta platform stocks

Shares of META opened at $572.81 on Thursday. The stock has a market cap of $1.45 trillion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The company’s fifty day simple moving average is $521.88 and two hundred day simple moving average is $501.35. The company has a current ratio of 2.83, a quick ratio of 2.83, and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $583.04.

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Meta Platforms (NASDAQ:META – Get Free Report ) last released its quarterly earnings data on Wednesday, July 31st. The social media company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. In the same quarter last year, the firm earned $3.23 EPS. The company’s revenue increased by 22.1% year-over-year. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents an annualized dividend of $2.00 and a yield of 0.35%. Meta platforms payout rate is 11.49%.

Insider activity at Meta platforms

In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $512.00, for a total value of $210,944.00. Following the transaction, the chief operating officer now owns 6,795 shares of the company’s stock, valued at approximately $3,479,040. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the sale, the chief executive officer now owns 151,918 shares in the company, valued at approximately $81,104,462.66. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00. Following the sale, the chief operating officer now owns 6,795 shares of the company’s stock, valued at approximately $3,479,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,462 shares of company stock worth $162,308,065. 13.71% of shares are owned by corporate insiders.

Analysts set new price targets

META has been the subject of several recent analyst reports. Bank of America boosted their target price on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Pivotal Research initiated coverage on shares of Meta Platforms in a report on Tuesday. They set a “buy” rating and a $780.00 price target for the company. TD Cowen boosted their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Loop Capital boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, TD Securities upped their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat , Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $598.08.

Read the latest stock report on meta platforms

Platform meta profile

(Free Report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.