Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,786 shares of the social networking company’s stock after selling 95 shares during the period. Pine Haven Investment Counsel Inc’s holdings in Meta Platforms were worth $632,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Meta Platforms by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC boosted its holdings in Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares during the last quarter. State Street Corp boosted its holdings in Meta Platforms by 1.8% in the 2nd quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock worth $25,410,057,000 after buying an additional 1,548,671 shares during the last quarter. Morgan Stanley boosted its holdings in Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares during the last quarter. Finally, Norges Bank acquired a new stake in Meta Platforms in the 4th quarter worth about $4,223,148,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total value of $201,722.40. Following the completion of the transaction, the insider now owns 36,418 shares in the company, valued at $12,979,375.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total transaction of $201,722.40. Following the completion of the sale, the insider now directly owns 36,418 shares of the company’s stock, valued at $12,979,375.20. The disclosure for this sale can be found here. Insiders sold 1,502,805 shares of company stock worth $703,056,383 over the last 90 days. Corporate insiders own 14.03% of the company’s stock.

Meta Platforms Stock Performance

Shares of 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. The firm has a fifty day moving average price of $473.50 and a 200 day moving average price of $381.00. The company 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, Inc. has a 12 month low of $207.13 and a 12 month high of $523.57.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on META. BMO Capital Markets raised their target price on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Oppenheimer raised their target price on shares of Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $435.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Wedbush raised their target price on shares of Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Wolfe Research raised their target price on shares of Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $496.35.

Check Out Our Latest Report on META

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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