Sanibel Captiva Trust Company Inc. Has $18.61 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Sanibel Captiva Trust Company Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,791 shares of the social networking company's stock after acquiring an additional 2,876 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Meta Platforms were worth $18,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the fourth quarter worth about $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares of the company's stock, valued at $29,776,261.56. The trade was a 14.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the sale, the insider now directly owns 32,387 shares in the company, valued at approximately $18,612,808.90. This trade represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

META traded up $1.47 on Monday, reaching $612.77. The company had a trading volume of 17,239,131 shares, compared to its average volume of 10,812,479. The company's fifty day moving average is $596.78 and its 200 day moving average is $557.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market cap of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms's dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Raymond James reissued a "strong-buy" rating and set a $675.00 price target on shares of Meta Platforms in a research report on Monday, November 25th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Finally, Susquehanna increased their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $650.05.

Meta Platforms 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.