Sanibel Captiva Trust Company Inc. Buys 1,055 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sanibel Captiva Trust Company Inc. increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,846 shares of the social networking company's stock after acquiring an additional 1,055 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Meta Platforms were worth $18,931,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC grew its position in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $701.13, for a total value of $1,025,052.06. Following the completion of the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now directly owns 7,446 shares in the company, valued at $4,523,445. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,682 shares of company stock worth $56,014,018. 13.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wedbush boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Morgan Stanley lifted their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Oppenheimer increased their price target 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $702.48.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.70 during midday trading on Thursday, reaching $691.44. 3,491,841 shares of the company's stock were exchanged, compared to its average volume of 14,479,528. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company's 50 day simple moving average is $597.08 and its two-hundred day simple moving average is $617.62. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a market capitalization of $1.74 trillion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

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.