FineMark National Bank & Trust raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,941 shares of the social networking company's stock after buying an additional 929 shares during the period. Meta Platforms comprises about 1.1% of FineMark National Bank & Trust's portfolio, making the stock its 17th biggest position. FineMark National Bank & Trust's holdings in Meta Platforms were worth $31,583,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the fourth quarter worth approximately $41,000. Finally, Cordant Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on META shares. Pivotal Research lifted their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Cantor Fitzgerald raised their target price on Meta Platforms from $720.00 to $790.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. The Goldman Sachs Group upped their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Scotiabank raised their price objective on Meta Platforms from $583.00 to $627.00 and gave the company a "sector perform" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $718.31.
Read Our Latest Research Report on META
Meta Platforms Stock Performance
Shares of NASDAQ:META traded down $22.08 during midday trading on Friday, reaching $580.50. 8,123,490 shares of the company traded hands, compared to its average volume of 14,206,572. The firm's fifty day moving average price is $655.95 and its two-hundred day moving average price is $607.98. The firm has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the firm earned $5.33 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is 8.78%.
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the completion of the transaction, the insider now owns 31,182 shares of the company's stock, valued at approximately $19,552,673.10. The trade was a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the sale, the chief operating officer now directly owns 17,514 shares in the company, valued at $10,318,548.24. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Company Profile
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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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