Legacy Private Trust Co. Has $13.38 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Legacy Private Trust Co. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,852 shares of the social networking company’s stock after buying an additional 1,168 shares during the period. Meta Platforms accounts for approximately 0.9% of Legacy Private Trust Co.’s investment portfolio, making the stock its 25th biggest holding. Legacy Private Trust Co.’s holdings in Meta Platforms were worth $13,380,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter worth $36,000. Halpern Financial Inc. purchased a new position in Meta Platforms during the 3rd quarter worth $46,000. West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter worth $49,000. Finally, Hoese & Co LLP raised its holdings in shares of Meta Platforms by 2,000.0% in the third quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock valued at $60,000 after purchasing an additional 100 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 1.2 %

Shares of META stock traded down $7.17 on Wednesday, hitting $610.72. The stock had a trading volume of 9,675,019 shares, compared to its average volume of 12,069,182. The company’s 50 day moving average price is $591.41 and its 200-day moving average price is $551.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $355.36 and a 1 year high of $638.40. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.77, a P/E/G ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,640 shares of company stock worth $219,037,690 in the last 90 days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the topic of several recent analyst reports. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Pivotal Research upped their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their price objective on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.80.

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.