Capital City Trust Co. FL Buys 417 Shares of Meta Platforms, Inc. (NASDAQ:META)

Capital City Trust Co. FL lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,146 shares of the social networking company’s stock after purchasing an additional 417 shares during the period. Capital City Trust Co. FL’s holdings in Meta Platforms were worth $3,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in Meta Platforms during the third quarter valued at approximately $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its holdings in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after acquiring an additional 71 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the sale, the insider now owns 39,627 shares of the company’s stock, valued at approximately $20,568,394.35. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,958 shares of company stock worth $101,181,747. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. KeyCorp lifted their target price on Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Up 0.8 %

META stock opened at $565.52 on Thursday. The stock has a market capitalization of $1.43 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $571.30 and a 200 day moving average of $523.03.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.