Meta Platforms, Inc. (NASDAQ:META) Holdings Lifted by Trust Co. of Vermont

Trust Co. of Vermont increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,838 shares of the social networking company's stock after buying an additional 897 shares during the quarter. Meta Platforms accounts for approximately 1.7% of Trust Co. of Vermont's holdings, making the stock its 10th biggest holding. Trust Co. of Vermont's holdings in Meta Platforms were worth $33,912,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fjell Capital LLC bought a new position in Meta Platforms during the 4th quarter valued at approximately $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $334,000. Brighton Jones LLC raised its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after acquiring an additional 570 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after acquiring an additional 875 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META traded down $18.87 during trading on Tuesday, hitting $719.22. The company's stock had a trading volume of 13,399,510 shares, compared to its average volume of 16,194,219. The business's 50 day simple moving average is $643.58 and its 200-day simple moving average is $627.27. The firm has a market cap of $1.81 trillion, a PE ratio of 28.05, a P/E/G ratio of 1.80 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its 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 company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares of the company's stock, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,095 shares of company stock valued at $93,076,345 in the last ninety days. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on META. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $675.00 to $735.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Raymond James Financial cut their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Moffett Nathanson boosted their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Citigroup raised their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $719.52.

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.