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

Whittier Trust Co. raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,130 shares of the social networking company’s stock after purchasing an additional 3,396 shares during the quarter. Meta Platforms accounts for 1.3% of Whittier Trust Co.’s holdings, making the stock its 12th largest holding. Whittier Trust Co.’s holdings in Meta Platforms were worth $86,496,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of META. Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. Capital World Investors increased its stake in Meta Platforms by 2.5% during the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the period. Capital International Investors lifted its position in shares of Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $11,285,855,000. Finally, Capital Research Global Investors boosted its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $530.00 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The stock has a 50 day simple moving average of $488.29 and a 200-day simple moving average of $464.16.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.15 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,459 shares of company stock worth $128,049,749. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada reduced their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Rosenblatt Securities boosted their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.59.

Check Out Our Latest Analysis on META

About Meta Platforms

(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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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