Bank of Hawaii Has $12.32 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Bank of Hawaii lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,524 shares of the social networking company’s stock after purchasing an additional 522 shares during the quarter. Meta Platforms accounts for about 0.5% of Bank of Hawaii’s portfolio, making the stock its 27th largest position. Bank of Hawaii’s holdings in Meta Platforms were worth $12,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after buying an additional 16,138 shares during the period. Cypress Asset Management Inc. TX grew its holdings in Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares during the last quarter. Montchanin Asset Management LLC acquired a new position in Meta Platforms in the 1st quarter valued at approximately $498,000. Untitled Investments LP raised its stake in shares of Meta Platforms by 45.6% during the first quarter. Untitled Investments LP now owns 34,158 shares of the social networking company’s stock valued at $16,586,000 after acquiring an additional 10,705 shares during the last quarter. Finally, CCM Investment Advisers LLC lifted its holdings in shares of Meta Platforms by 0.4% during the first quarter. CCM Investment Advisers LLC now owns 45,736 shares of the social networking company’s stock worth $22,208,000 after purchasing an additional 163 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $573.54 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a fifty day moving average price of $573.38 and a 200-day moving average price of $525.35. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 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 firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on META. Loop Capital increased their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Stifel Nicolaus increased their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Scotiabank cut their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and issued a $675.00 target price on shares of Meta Platforms in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now directly owns 38,722 shares in the company, valued at $20,135,440. The trade was a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,656 shares of company stock valued at $61,933,867. Insiders own 13.71% of the company’s stock.

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.