Coastline Trust Co Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Coastline Trust Co increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,896 shares of the social networking company’s stock after buying an additional 3,501 shares during the period. Meta Platforms comprises about 2.5% of Coastline Trust Co’s holdings, making the stock its 9th biggest position. Coastline Trust Co’s holdings in Meta Platforms were worth $21,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. purchased a new position in Meta Platforms in the third quarter valued at about $46,000. West Financial Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $49,000. Finally, NewSquare Capital LLC increased its stake in shares of Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.1 %

Shares of NASDAQ:META opened at $554.40 on Tuesday. The firm has a market capitalization of $1.40 trillion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s 50-day moving average is $569.10 and its two-hundred day moving average is $521.96.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Analysts predict that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Sanford C. Bernstein upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Citigroup lifted their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the sale, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. The trade was a 36.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares in the company, valued at $17,360,833.70. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,593 shares of company stock worth $75,253,970 over the last 90 days. 13.71% of the stock is owned by insiders.

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.