Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Spinnaker Trust

Spinnaker Trust grew its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,673 shares of the social networking company’s stock after acquiring an additional 100 shares during the quarter. Spinnaker Trust’s holdings in Meta Platforms were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in META. MBM Wealth Consultants LLC bought a new position in Meta Platforms during the 4th quarter worth $26,000. Stephens Investment Management Group LLC bought a new position in Meta Platforms during the 2nd quarter worth $30,000. PayPay Securities Corp grew its stake in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after buying an additional 43 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in Meta Platforms during the 3rd quarter worth $40,000. Finally, Red Tortoise LLC grew its stake in Meta Platforms by 32.2% during the 1st quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after buying an additional 46 shares during the last quarter. 62.87% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 0.4 %

Shares of Meta Platforms stock opened at $472.92 on Monday. The stock has a 50-day moving average price of $358.32 and a 200 day moving average price of $326.16. The company has a market cap of $1.22 trillion, a P/E ratio of 31.88, a P/E/G ratio of 1.27 and a beta of 1.15. The company has a current ratio of 2.67, a quick ratio of 2.57 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $167.66 and a 1 year high of $485.96.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 17.73 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date is Wednesday, February 21st.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $338.48, for a total transaction of $191,579.68. Following the completion of the sale, the insider now directly owns 40,380 shares of the company’s stock, valued at approximately $13,667,822.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 28,009 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $318.11, for a total value of $8,909,942.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $338.48, for a total value of $191,579.68. Following the completion of the transaction, the insider now directly owns 40,380 shares in the company, valued at $13,667,822.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 912,015 shares of company stock valued at $320,157,535. Corporate insiders own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on META. Susquehanna upped their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research note on Friday. Truist Financial boosted their price target on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities increased their price target on Meta Platforms from $410.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday. Evercore ISI increased their price target on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $491.03.

View Our Latest Stock Analysis on Meta Platforms

About Meta Platforms

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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