Arbor Trust Wealth Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,813 shares of the social networking company’s stock after purchasing an additional 185 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,647,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $41,000. Halpern Financial Inc. acquired a new stake in Meta Platforms in the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms during the 3rd quarter valued at about $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the transaction, the insider now directly owns 31,482 shares of the company’s stock, valued at $18,262,708.20. This trade represents a 2.79 % 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, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. This trade represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,190 shares of company stock worth $322,938,501 in the last 90 days. 13.71% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Read Our Latest Analysis on Meta Platforms
Meta Platforms Stock Up 0.6 %
Shares of NASDAQ:META opened at $616.46 on Wednesday. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a 50 day moving average of $598.00 and a two-hundred day moving average of $558.31. Meta Platforms, Inc. has a 52-week low of $381.16 and a 52-week high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.
About Meta Platforms
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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