BTC Capital Management Inc. Sells 62 Shares of Meta Platforms, Inc. (NASDAQ:META)

BTC Capital Management Inc. trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,386 shares of the social networking company’s stock after selling 62 shares during the quarter. Meta Platforms makes up about 1.6% of BTC Capital Management Inc.’s portfolio, making the stock its 14th largest holding. BTC Capital Management Inc.’s holdings in Meta Platforms were worth $17,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Lindenwold Advisors INC raised its position in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after acquiring an additional 17 shares during the period. Insight Wealth Strategies LLC raised its position in 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 acquiring an additional 17 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after acquiring an additional 17 shares during the period. Cherrydale Wealth Management LLC raised its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Finally, Alliance Wealth Advisors LLC raised its position in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.0 %

NASDAQ:META opened at $704.19 on Wednesday. The company has a fifty day moving average of $618.86 and a 200 day moving average of $570.21. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $710.79. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.78 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company posted $5.33 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 25.94 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insiders Place Their Bets

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 673,878 shares of company stock worth $416,269,904. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on META. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Raymond James reissued a “strong-buy” rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Mizuho boosted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Pivotal Research boosted their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $710.83.

View Our Latest Research Report on Meta Platforms

Meta Platforms Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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