Berkshire Bank Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Berkshire Bank cut its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,743 shares of the social networking company’s stock after selling 61 shares during the period. Berkshire Bank’s holdings in Meta Platforms were worth $617,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Peterson Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares in the last quarter. Edge Wealth Management LLC raised its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after acquiring an additional 28 shares in the last quarter. Yarger Wealth Strategies LLC raised its stake in shares of Meta Platforms by 4.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 736 shares of the social networking company’s stock worth $260,000 after acquiring an additional 28 shares in the last quarter. Curated Wealth Partners LLC raised its stake in shares of Meta Platforms by 1.8% during the 4th quarter. Curated Wealth Partners LLC now owns 1,602 shares of the social networking company’s stock worth $567,000 after acquiring an additional 29 shares in the last quarter. Finally, Courier Capital LLC raised its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Courier Capital LLC now owns 1,843 shares of the social networking company’s stock worth $652,000 after acquiring an additional 31 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction on Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction on Friday, January 5th. The shares were sold at an average price of $351.47, for a total value of $6,917,281.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total transaction of $295,594.65. Following the completion of the transaction, the insider now owns 39,568 shares in the company, valued at $19,993,314.72. The disclosure for this sale can be found here. Insiders have sold 1,502,805 shares of company stock valued at $703,056,383 in the last ninety days. 14.03% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 1.2 %

META stock opened at $497.37 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $523.57. The company’s 50 day moving average is $473.50 and its two-hundred day moving average is $381.00. The stock has a market cap of $1.27 trillion, a P/E ratio of 33.38, a PEG ratio of 1.25 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 13.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Morgan Stanley upped their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Roth Mkm restated a “buy” rating and set a $500.00 price objective on shares of Meta Platforms in a research report on Monday, March 18th. Wedbush upped their price objective on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Sanford C. Bernstein increased their target price on shares of Meta Platforms from $435.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $496.35.

Read Our Latest Research Report on Meta Platforms

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.

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

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