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

Coastline Trust Co grew its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,896 shares of the social networking company's stock after purchasing an additional 3,501 shares during the period. Meta Platforms comprises 2.5% of Coastline Trust Co's portfolio, making the stock its 9th largest holding. Coastline Trust Co's holdings in Meta Platforms were worth $21,693,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in META. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its holdings in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock worth $52,000 after purchasing an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ:META traded down $1.40 on Tuesday, reaching $553.00. The stock had a trading volume of 3,662,874 shares, compared to its average volume of 15,010,993. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, 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 stock has a fifty day moving average price of $569.10 and a 200-day moving average price of $521.96.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company's stock in a transaction that occurred 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 $15,377,575.12. The trade was a 36.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,593 shares of company stock worth $75,253,970. Insiders own 13.71% of the company's stock.

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. Hsbc Global Res upgraded Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Oppenheimer increased their price target on Meta Platforms from $525.00 to $615.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Cantor Fitzgerald restated an "overweight" rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Mizuho raised their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $634.10.

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.