Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Rockland Trust Co.

Rockland Trust Co. reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,250 shares of the social networking company’s stock after selling 2,839 shares during the quarter. Meta Platforms accounts for 1.9% of Rockland Trust Co.’s holdings, making the stock its 15th biggest position. Rockland Trust Co.’s holdings in Meta Platforms were worth $36,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in META. Fiera Capital Corp boosted its position in shares of Meta Platforms by 35.1% in the 2nd quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock valued at $13,751,000 after purchasing an additional 7,089 shares during the period. Prosperity Consulting Group LLC lifted its stake in Meta Platforms by 2.3% during the second quarter. Prosperity Consulting Group LLC now owns 6,510 shares of the social networking company’s stock valued at $3,283,000 after buying an additional 146 shares in the last quarter. SilverOak Wealth Management LLC boosted its holdings in shares of Meta Platforms by 1.7% in the second quarter. SilverOak Wealth Management LLC now owns 5,086 shares of the social networking company’s stock worth $2,565,000 after buying an additional 86 shares during the period. Lyell Wealth Management LP increased its position in shares of Meta Platforms by 8.4% in the second quarter. Lyell Wealth Management LP now owns 48,480 shares of the social networking company’s stock worth $24,445,000 after acquiring an additional 3,756 shares in the last quarter. Finally, Williams Financial LLC acquired a new stake in shares of Meta Platforms during the second quarter valued at approximately $6,650,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now owns 11,120 shares in the company, valued at $6,456,828. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 495,682 shares of company stock valued at $301,101,199 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 3.8 %

Shares of NASDAQ:META opened at $617.12 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 1.36 and a beta of 1.19. The company has a 50 day moving average of $595.02 and a 200-day moving average of $554.81. Meta Platforms, Inc. has a one year low of $358.61 and a one year high of $638.40.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Scotiabank decreased their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Sanford C. Bernstein upped their price target on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their price objective on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Robert W. Baird lifted their target price on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price 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.