Legacy Private Trust Co. Sells 2,130 Shares of Meta Platforms, Inc. (NASDAQ:META)

Legacy Private Trust Co. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,926 shares of the social networking company’s stock after selling 2,130 shares during the quarter. Legacy Private Trust Co.’s holdings in Meta Platforms were worth $10,161,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Meta Platforms in the 4th quarter worth approximately $11,285,855,000. International Assets Investment Management LLC lifted its holdings in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after purchasing an additional 4,908,251 shares in the last quarter. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.7% in 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 purchasing an additional 3,104,550 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $494.78 on Friday. The firm has a market cap of $1.26 trillion, a P/E ratio of 28.42, a P/E/G ratio of 1.30 and a beta of 1.21. 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 $531.49. The stock’s fifty day moving average price is $478.95 and its 200-day moving average price is $446.29.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Rosenblatt Securities boosted their price target on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group decreased their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Guggenheim decreased their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, UBS Group decreased their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $504.82, for a total value of $39,079,125.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now directly owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders have sold 313,169 shares of company stock worth $153,344,736 over the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.