Penobscot Investment Management Company Inc. Buys 390 Shares of Meta Platforms, Inc. (NASDAQ:META)

Penobscot Investment Management Company Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,400 shares of the social networking company’s stock after purchasing an additional 390 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Meta Platforms were worth $1,911,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cozad Asset Management Inc. boosted its stake in Meta Platforms by 1.3% in the fourth quarter. Cozad Asset Management Inc. now owns 7,728 shares of the social networking company’s stock worth $2,735,000 after buying an additional 101 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Meta Platforms by 0.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,774 shares of the social networking company’s stock worth $8,769,000 after buying an additional 209 shares in the last quarter. Field & Main Bank boosted its stake in Meta Platforms by 2.2% in the fourth quarter. Field & Main Bank now owns 7,676 shares of the social networking company’s stock worth $2,717,000 after buying an additional 163 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Meta Platforms by 19.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 71,075 shares of the social networking company’s stock worth $25,158,000 after buying an additional 11,640 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Meta Platforms by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 319,509 shares of the social networking company’s stock worth $113,093,000 after buying an additional 15,491 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 0.6 %

META stock opened at $430.17 on Wednesday. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.10 trillion, a P/E ratio of 24.71, a PEG ratio of 1.12 and a beta of 1.20. The business’s 50-day moving average price is $492.83 and its 200-day moving average price is $406.97.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.17 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity

In related news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. 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 97,093 shares of Meta Platforms stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the sale, the insider now directly owns 34,168 shares in the company, valued at approximately $15,853,952. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,291 shares of company stock valued at $612,916,087 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on META. Barclays cut their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Monness Crespi & Hardt increased their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Wedbush dropped their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $509.18.

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.