Cape ANN Savings Bank Invests $231,000 in Meta Platforms, Inc. (NASDAQ:META)

Cape ANN Savings Bank purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 591 shares of the social networking company’s stock, valued at approximately $231,000.

Other institutional investors also recently bought and sold shares of the company. Madison Wealth Partners Inc increased its position in shares of Meta Platforms by 1.6% in the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. Addison Advisors LLC increased its holdings in Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares during the last quarter. Smithfield Trust Co raised its stake in Meta Platforms by 0.5% in the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company’s stock valued at $1,730,000 after buying an additional 25 shares in the last quarter. American National Bank lifted its holdings in Meta Platforms by 1.6% during the 4th quarter. American National Bank now owns 1,590 shares of the social networking company’s stock worth $563,000 after buying an additional 25 shares during the last quarter. Finally, WoodTrust Financial Corp boosted its position in shares of Meta Platforms by 1.8% during the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after acquiring an additional 27 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Barclays cut their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Roth Mkm raised their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. UBS Group cut their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Guggenheim decreased their target price on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $510.41.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $503.34, for a total value of $8,406,784.68. Following the sale, the chief executive officer now directly owns 275,297 shares in the company, valued at $138,567,991.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $503.34, for a total value of $8,406,784.68. Following the completion of the transaction, the chief executive officer now owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the transaction, the chief financial officer now directly owns 74,580 shares in the company, valued at approximately $35,190,573. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 423,149 shares of company stock valued at $208,877,207. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $2.47 on Monday, hitting $506.63. The company’s stock had a trading volume of 11,245,824 shares, compared to its average volume of 16,643,670. The company has a market capitalization of $1.29 trillion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The firm has a fifty day moving average price of $480.14 and a 200-day moving average price of $444.30. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. 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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.