Berkshire Bank Sells 61 Shares of Meta Platforms, Inc. (NASDAQ:META)

Berkshire Bank decreased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,743 shares of the social networking company’s stock after selling 61 shares during the period. Berkshire Bank’s holdings in Meta Platforms were worth $617,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. MBM Wealth Consultants LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $26,000. Stephens Investment Management Group LLC purchased a new stake in Meta Platforms in the 2nd quarter valued at about $30,000. Beaird Harris Wealth Management LLC increased its stake in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares during the last quarter. Finally, PayPay Securities Corp increased its stake in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CEO Mark Zuckerberg sold 16,776 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total transaction of $6,188,498.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 16,776 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $368.89, for a total value of $6,188,498.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $356.40, for a total transaction of $201,722.40. Following the completion of the transaction, the insider now directly owns 36,418 shares of the company’s stock, valued at $12,979,375.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,502,805 shares of company stock valued at $703,056,383. Insiders own 14.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. BMO Capital Markets raised their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Evercore ISI raised their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Citigroup raised their price target on shares of Meta Platforms from $440.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley raised their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.35.

Read Our Latest Stock Report on Meta Platforms

Meta Platforms Stock Performance

NASDAQ META opened at $497.37 on Wednesday. The company has a 50-day simple moving average of $473.50 and a two-hundred day simple moving average of $381.00. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $523.57. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.25 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same period in the prior year, the business posted $3.00 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Meta Platforms 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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