Bangor Savings Bank Has $1.42 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Bangor Savings Bank trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,431 shares of the social networking company’s stock after selling 57 shares during the quarter. Bangor Savings Bank’s holdings in Meta Platforms were worth $1,423,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Lindenwold Advisors INC boosted its stake in Meta Platforms by 0.3% in the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares during the period. Insight Wealth Strategies LLC boosted its position in shares of Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after buying an additional 17 shares during the period. Central Valley Advisors LLC boosted its position in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after buying an additional 18 shares during the period. Cherrydale Wealth Management LLC grew its holdings in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares in the last quarter. Finally, Alliance Wealth Advisors LLC raised its position in Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after buying an additional 18 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of META stock opened at $630.20 on Tuesday. Meta Platforms, Inc. has a 1 year low of $352.05 and a 1 year high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $590.92 and its 200-day moving average is $550.47. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.39 and a beta of 1.19.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analysts Set New Price Targets

META has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JMP Securities raised their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a report on Thursday, January 2nd. Truist Financial upped their price objective on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Wedbush lifted their target price on shares of Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $645.80.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $603.98, for a total value of $21,695,565.58. The disclosure for this sale can be found here. Insiders have sold 361,640 shares of company stock worth $219,037,690 in the last three months. Insiders own 13.71% of the company’s stock.

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.