New Hampshire Trust Has $5.04 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

New Hampshire Trust trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 8,752 shares of the social networking company's stock after selling 1,354 shares during the period. Meta Platforms makes up about 1.2% of New Hampshire Trust's holdings, making the stock its 22nd largest holding. New Hampshire Trust's holdings in Meta Platforms were worth $5,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total transaction of $593,124.00. Following the transaction, the insider now owns 33,945 shares of the company's stock, valued at $21,860,580. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were 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 owns 70,040 shares in the company, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,056 shares of company stock worth $35,074,903 in the last quarter. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META traded up $23.40 on Monday, hitting $670.89. The company's stock had a trading volume of 13,224,737 shares, compared to its average volume of 14,486,558. The company has a market capitalization of $1.69 trillion, a PE ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a 50 day moving average price of $578.56 and a 200 day moving average price of $611.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. DA Davidson reduced their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald boosted their target price on Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Citigroup upped their price target on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

About Meta Platforms

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.