Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Riverview Trust Co

Riverview Trust Co reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,645 shares of the social networking company's stock after selling 379 shares during the quarter. Meta Platforms comprises about 1.5% of Riverview Trust Co's holdings, making the stock its 11th largest position. Riverview Trust Co's holdings in Meta Platforms were worth $1,524,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $325,000. Daner Wealth Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $334,000. Appleton Partners Inc. MA grew its stake in shares of Meta Platforms by 3.7% during the 4th quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after purchasing an additional 951 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock worth $20,230,000 after purchasing an additional 570 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $609.00, for a total transaction of $370,272.00. Following the completion of the transaction, the chief operating officer now directly owns 8,054 shares of the company's stock, valued at $4,904,886. This trade represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,171 shares of company stock valued at $35,163,457 in the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

META opened at $684.62 on Friday. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $585.44 and a 200 day simple moving average of $613.90.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 EPS. The firm's quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday. Benchmark reduced their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Citigroup upped their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer upped their target price on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $702.48.

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.

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