Bank of Hawaii Purchases 522 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bank of Hawaii raised its position in Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,524 shares of the social networking company’s stock after purchasing an additional 522 shares during the period. Meta Platforms makes up about 0.5% of Bank of Hawaii’s investment portfolio, making the stock its 27th biggest holding. Bank of Hawaii’s holdings in Meta Platforms were worth $12,321,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the period. Gradient Investments LLC lifted its position in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the period. Finally, Stanley Laman Group Ltd. boosted its stake in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after purchasing an additional 352 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’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 directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,656 shares of company stock valued at $61,933,867. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $573.54 on Wednesday. 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 stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a 50-day simple moving average of $573.38 and a two-hundred day simple moving average of $525.35.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given 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 dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

META has been the topic of a number of research reports. Raymond James restated a “strong-buy” rating and issued a $675.00 price target on shares of Meta Platforms in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Loop Capital boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Evercore ISI increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Tigress Financial lifted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.71.

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.