Philadelphia Trust Co. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,260 shares of the social networking company's stock after selling 1,664 shares during the period. Meta Platforms makes up approximately 1.5% of Philadelphia Trust Co.'s holdings, making the stock its 18th largest position. Philadelphia Trust Co.'s holdings in Meta Platforms were worth $20,060,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Seelaus Asset Management LLC grew its position in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning boosted its position in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after purchasing an additional 15 shares during the last quarter. Maiden Cove Capital LLC increased its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. Riverwater Partners LLC lifted its stake in shares of Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares during the period. Finally, Stephens Consulting LLC boosted its holdings in shares of Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on META. Benchmark raised shares of Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 target price for the company in a report on Thursday, January 30th. Guggenheim reduced their price objective on Meta Platforms from $750.00 to $675.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Bank of America lowered their target price on Meta Platforms from $765.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Raymond James restated a "strong-buy" rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Argus set a $775.00 price objective on Meta Platforms in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $692.93.
Read Our Latest Report on META
Insider Buying and Selling at Meta Platforms
In related news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total value of $547,108.70. Following the transaction, the insider now directly owns 31,105 shares of the company's stock, valued at $18,804,216.70. This represents a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total value of $22,133,083.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 451,119 shares of company stock valued at $304,709,239. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Trading Down 2.2 %
Shares of Meta Platforms stock traded down $12.09 on Monday, hitting $531.48. 14,102,971 shares of the company traded hands, compared to its average volume of 14,773,940. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a market cap of $1.35 trillion, a PE ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. The stock's 50 day moving average price is $628.35 and its 200-day moving average price is $609.40. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the company earned $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.40%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is currently 8.78%.
Meta Platforms Company Profile
(
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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