Dorsey & Whitney Trust CO LLC Has $6.17 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Dorsey & Whitney Trust CO LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,244 shares of the social networking company’s stock after buying an additional 971 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Meta Platforms were worth $6,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of META. Vantage Financial Partners LLC boosted its position in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares in the last quarter. Concentrum Wealth Management boosted its holdings in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC grew its position in Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after acquiring an additional 722 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Rollins Financial raised its position in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.2 %

META opened at $524.62 on Friday. The firm has a market capitalization of $1.33 trillion, a PE ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company’s 50-day moving average is $505.13 and its 200 day moving average is $495.37.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $3.23 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. The Goldman Sachs Group upped their price objective on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Guggenheim upped their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. JMP Securities restated a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $577.26.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders sold a total of 357,574 shares of company stock worth $185,587,773 in the last quarter. 13.71% 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.