18,067 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,067 shares of the social networking company’s stock, valued at approximately $8,877,000. Meta Platforms makes up 1.1% of Central Pacific Bank Trust Division’s investment portfolio, making the stock its 9th biggest holding.

A number of other large investors have also bought and sold shares of the business. S.A. Mason LLC increased its position in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the last quarter. LongView Wealth Management increased its position in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares during the last quarter. Hanson & Doremus Investment Management increased its position in shares of Meta Platforms by 5.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after purchasing an additional 22 shares during the last quarter. Finally, Madison Wealth Partners Inc increased its position in shares of Meta Platforms by 1.6% during the 4th quarter. Madison Wealth Partners Inc now owns 1,417 shares of the social networking company’s stock valued at $502,000 after purchasing an additional 23 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on META shares. Rosenblatt Securities raised their price target on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Roth Mkm raised their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Raymond James raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Wells Fargo & Company raised their price target on Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Truist Financial reduced their price target on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.64.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares in the company, valued at $7,268,235.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 294,768 shares of company stock worth $146,314,257. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.9 %

Shares of META stock opened at $534.69 on Thursday. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50 day simple moving average is $490.20 and its two-hundred day simple moving average is $464.66. The company has a market cap of $1.36 trillion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

About Meta Platforms

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.