First American Trust FSB Has $13.53 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

First American Trust FSB raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,215 shares of the social networking company’s stock after buying an additional 608 shares during the quarter. Meta Platforms accounts for 1.7% of First American Trust FSB’s investment portfolio, making the stock its 13th largest holding. First American Trust FSB’s holdings in Meta Platforms were worth $13,526,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Stockton increased its position in shares of Meta Platforms by 9.2% during the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the last quarter. Signify Wealth bought a new position in shares of Meta Platforms during the 4th quarter worth $228,000. Investment Research & Advisory Group Inc. grew its stake in shares of Meta Platforms by 1.5% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after acquiring an additional 164 shares during the period. Keel Point LLC grew its stake in shares of Meta Platforms by 6.3% during the 3rd quarter. Keel Point LLC now owns 6,690 shares of the social networking company’s stock worth $2,008,000 after acquiring an additional 399 shares during the period. Finally, Syntegra Private Wealth Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth $269,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock traded up $1.06 during trading hours on Tuesday, hitting $501.29. 3,042,017 shares of the company’s stock were exchanged, compared to its average volume of 17,052,457. The firm has a 50 day moving average of $492.26 and a two-hundred day moving average of $394.61. Meta Platforms, Inc. has a fifty-two week low of $207.13 and a fifty-two week high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.28 trillion, a P/E ratio of 33.64, a P/E/G ratio of 1.31 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion during the quarter, compared to the consensus estimate of $39.12 billion. During the same period in the prior year, the company earned $3.00 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.06 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 13.42%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,459,469 shares of company stock worth $691,726,161. 14.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler raised their target price on Meta Platforms from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI raised their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Truist Financial lifted their price target on Meta Platforms from $405.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Sanford C. Bernstein raised their price objective on Meta Platforms from $435.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Robert W. Baird lifted their price target on Meta Platforms from $385.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

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.