Fulton Bank N.A. Sells 2,058 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fulton Bank N.A. cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,483 shares of the social networking company’s stock after selling 2,058 shares during the period. Meta Platforms accounts for 1.0% of Fulton Bank N.A.’s portfolio, making the stock its 22nd largest holding. Fulton Bank N.A.’s holdings in Meta Platforms were worth $27,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms during the 3rd quarter valued at $36,000. Halpern Financial Inc. purchased a new stake in Meta Platforms in the 3rd quarter worth $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms during the third quarter valued at about $49,000. Finally, Hoese & Co LLP lifted its position 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 acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group lifted their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research lifted their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.80.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,640 shares of company stock valued at $219,037,690 in the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 1.0 %

Shares of META traded down $6.27 during mid-day trading on Wednesday, hitting $611.62. The company’s stock had a trading volume of 5,199,450 shares, compared to its average volume of 11,145,851. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.36 and a beta of 1.19. The company’s 50-day moving average is $591.41 and its 200-day moving average is $551.33. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $355.36 and a 52-week high of $638.40.

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

Meta Platforms Dividend Announcement

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

About Meta Platforms

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.