Plimoth Trust Co. LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,892 shares of the social networking company's stock after purchasing an additional 1,085 shares during the period. Meta Platforms accounts for 1.2% of Plimoth Trust Co. LLC's holdings, making the stock its 23rd biggest holding. Plimoth Trust Co. LLC's holdings in Meta Platforms were worth $5,209,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Meta Platforms by 1.9% during the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $1,191,175,000. Concentrum Wealth Management raised its holdings in shares of Meta Platforms by 948.7% during the 3rd quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company's stock worth $913,000 after acquiring an additional 1,124,998 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Meta Platforms by 209.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 430,434 shares of the social networking company's stock valued at $314,340,000 after purchasing an additional 824,276 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $540,634,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Citigroup reissued an "outperform" rating on shares of Meta Platforms in a research report on Thursday, January 29th. Canaccord Genuity Group upped their price objective on Meta Platforms from $900.00 to $930.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Wolfe Research cut their price objective on Meta Platforms from $850.00 to $800.00 and set an "outperform" rating on the stock in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $880.00 to $920.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Finally, Truist Financial upped their target price on Meta Platforms from $875.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price of $837.09.
View Our Latest Stock Analysis on META
Insider Transactions at Meta Platforms
In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $667.00, for a total value of $386,860.00. Following the completion of the sale, the director directly owned 3,847 shares in the company, valued at approximately $2,565,949. This trade represents a 13.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $680.09, for a total value of $629,763.34. Following the completion of the transaction, the chief operating officer owned 9,631 shares of the company's stock, valued at approximately $6,549,946.79. The trade was a 8.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 165,600 shares of company stock valued at $106,023,973. 13.61% of the stock is currently owned by company insiders.
Key Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
Meta Platforms Trading Up 0.5%
Shares of NASDAQ META opened at $678.62 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market capitalization of $1.72 trillion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25. The business has a fifty day moving average price of $629.12 and a 200 day moving average price of $648.75.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping analysts' consensus estimates of $8.16 by $0.72. The firm had revenue of $59.89 billion during the quarter, compared to analysts' expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm's quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.02 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 29.83 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were paid a $0.525 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is 8.94%.
Meta Platforms Profile
(
Free Report)
Meta Platforms, Inc NASDAQ: META, formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta's core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
Further Reading
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