Meta Platforms, Inc. (NASDAQ:META) is Coastline Trust Co's 9th Largest Position

Coastline Trust Co grew its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,361 shares of the social networking company's stock after buying an additional 632 shares during the quarter. Meta Platforms accounts for approximately 2.9% of Coastline Trust Co's portfolio, making the stock its 9th biggest position. Coastline Trust Co's holdings in Meta Platforms were worth $23,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $325,000. Brighton Jones LLC boosted its stake in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after buying an additional 875 shares during the period. SOA Wealth Advisors LLC. boosted its stake in shares of Meta Platforms by 5.5% in the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock valued at $1,989,000 after buying an additional 178 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its stake in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after buying an additional 7,587 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Up 0.5%

NASDAQ:META opened at $716.91 on Monday. The firm has a market cap of $1.80 trillion, a P/E ratio of 27.96, a PEG ratio of 1.76 and a beta of 1.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $658.89 and its 200-day simple moving average is $630.28. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the sale, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer owned 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,677 shares of company stock valued at $105,221,340. Company insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Loop Capital lifted their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. TD Securities cut their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Oppenheimer raised their target price on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Roth Capital raised their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $719.29.

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.

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