First Citizens Bank & Trust Co. Has $16.97 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

First Citizens Bank & Trust Co. lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 41.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,933 shares of the social networking company’s stock after selling 33,394 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Meta Platforms were worth $16,966,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Financial Management Network Inc. raised its stake in Meta Platforms by 39.4% during the 4th quarter. Financial Management Network Inc. now owns 2,309 shares of the social networking company’s stock worth $813,000 after buying an additional 653 shares during the period. Prio Wealth Limited Partnership raised its stake in shares of Meta Platforms by 1.2% in the 4th quarter. Prio Wealth Limited Partnership now owns 161,665 shares of the social networking company’s stock valued at $57,223,000 after purchasing an additional 1,983 shares during the period. SNS Financial Group LLC raised its stake in shares of Meta Platforms by 0.7% in the 4th quarter. SNS Financial Group LLC now owns 4,714 shares of the social networking company’s stock valued at $1,669,000 after purchasing an additional 35 shares during the period. Nvest Financial LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $458,000. Finally, StoneCrest Wealth Management Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $478,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $497.37 on Wednesday. The firm’s fifty day simple moving average is $473.50 and its two-hundred day simple moving average is $381.00. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $523.57. The stock has a market capitalization of $1.27 trillion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 1.25 and a beta of 1.20. 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 (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. BMO Capital Markets lifted their price target on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Bank of America lifted their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Raymond James lifted their price target on Meta Platforms from $450.00 to $550.00 and gave the company a “strong-buy” rating in a research note on Friday, February 2nd. Evercore ISI lifted their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Roth Mkm restated a “buy” rating and issued a $500.00 price objective on shares of Meta Platforms in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $496.35.

Read Our Latest Stock Report on Meta Platforms

Insider Activity

In other news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total transaction of $6,188,498.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total value of $6,188,498.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,502,805 shares of company stock worth $703,056,383. Company insiders own 14.03% of the company’s stock.

Meta Platforms Company Profile

(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.

See Also

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

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