Arbor Trust Wealth Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,576 shares of the social networking company’s stock after selling 295 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Meta Platforms were worth $1,902,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Infusive Asset Management Inc. raised its holdings in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after buying an additional 2,285 shares in the last quarter. Spirepoint Private Client LLC grew its position in Meta Platforms by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after acquiring an additional 109 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Meta Platforms by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after acquiring an additional 20,912 shares during the last quarter. Stephens Inc. AR raised its stake in Meta Platforms by 5.6% during the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock worth $62,507,000 after acquiring an additional 4,473 shares in the last quarter. Finally, Motiv8 Investments LLC lifted its holdings in shares of Meta Platforms by 11.5% in the second quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock worth $1,535,000 after acquiring an additional 214 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $589.22 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The firm has a market cap of $1.49 trillion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.20. The firm’s fifty day moving average is $700.89 and its 200-day moving average is $704.88.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s payout ratio is currently 9.28%.
Wall Street Analyst Weigh In
META has been the topic of a number of research analyst reports. TD Cowen reduced their price target on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Piper Sandler cut their target price on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $900.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Meta Platforms from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group dropped their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $825.05.
Check Out Our Latest Stock Analysis on META
Insider Buying and Selling
In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the sale, the chief operating officer owned 9,784 shares of the company’s stock, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction that occurred on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the transaction, the chief financial officer owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. The trade was a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,959 shares of company stock valued at $26,906,323 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.
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.
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