First Citizens Bank & Trust Inc. decreased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 41.1% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission. I let it happen. The company now owns 47,933 shares of the social networking company’s stock after selling an additional 33,394 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Meta Platforms were valued at $16,966,000 as of the most recent SEC filing.
Several other hedge funds have also increased or decreased their stakes in the business. Financial Management Network Inc. raised its stake in Meta Platforms by 39.4% in the 4th quarter. Financial Management Network Inc. now owns 2,309 shares of the social networking company’s stock valued at $813,000 after purchasing an additional 653 shares during the period. Prio Wealth Limited Partnership lifted its stake in shares of Meta Platforms by 1.2% in the 4th quarter. Prio Wealth Limited Partnership now owns 161,665 shares of the social networking company’s stock valued at $57,223,000 after purchasing an additional 1,983 shares during the period. SNS Financial Group LLC lifted its stake in Meta Platforms by 0.7% in the 4th quarter. SNS Financial Group LLC now owns 4,714 shares of the social networking company’s stock valued at $1,669,000 after purchasing an additional 35 shares during the period. Nvest Financial LLC acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $458,000. Finally, StoneCrest Wealth Management Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $478,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Metaplatform stock price performance
META stock opened Wednesday at $497.37. The company’s 50 day simple moving average is $473.50 and its 200 day simple moving average is $381.00. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $523.57. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 33.38x, a price-to-earnings ratio of 1.25x, and a beta of 1.20x. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net profit margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion for the quarter, compared to analyst expectations of $39.12 billion. In the same period last year, the business earned $3.00 per share. The business’ quarterly revenue increased 24.7% compared to the same period last year. As a group, analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.
Metaplatform dividend announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22 were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This equates to an annual dividend of $2.00 and a dividend yield of 0.40%. Meta Platforms’ payout ratio is currently 13.42%.
Analyst upgrades and downgrades
META has been the subject of several recent research reports. BMO Capital Markets increased their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Bank of America increased their target price on MetaPlatform from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Raymond James increased their target price on MetaPlatform from $450.00 to $550.00 and gave the company a “strong buy” rating in a research note on Friday, February 2nd. Evercore ISI increased their target price on Metaplatform from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Roth Mkm restated a “buy” rating and set his $500.00 price objective on shares of Meta Platforms in his report on Monday, March 18th. 1 research analyst has rated the stock with a sell rating, 2 have rated it a hold, 39 have rated it a buy, and 2 have rated the stock with a strong buy rating. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $496.35.
Read the latest stock report on Metaplatform
Insider activity
In other news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total transaction of $6,188,498.64. The sale was disclosed in his SEC filing, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total value of $6,188,498.64. The transaction was disclosed in his SEC filing, which is available at this link. Also, Chief Operating Officer (COO) Javier Oliván sold 490 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. Disclosures regarding this sale can be found here. Over the past 90 days, insiders have sold 1,502,805 shares of company stock, valued at $703,056,383. Insiders own 14.03% of the company’s stock.
Metaplatform company profile
(Free report)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables around the world. The company operates in two segments: Family of Apps and Reality Labs. The Family of Apps segment powers Facebook, where people can share, discuss, discover, and connect about what interests them. Community for sharing Instagram, photos, videos, private messages, feeds, stories, reels, videos, live, shop. Messenger is a messaging application that lets people connect with friends, family, communities, and businesses across platforms and devices through text, voice, and video calls. WhatsApp is a messaging application used by people and businesses to conduct private communications and transactions.
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