Tompkins Financial Corp Has $339,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Tompkins Financial Corp decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 43.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699 shares of the social networking company’s stock after selling 527 shares during the quarter. Tompkins Financial Corp’s holdings in Meta Platforms were worth $339,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Meta Platforms during the 4th quarter worth about $11,285,855,000. International Assets Investment Management LLC lifted its holdings in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the period. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the period. Concentrum Wealth Management lifted its holdings in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Loop Capital lowered their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Rosenblatt Securities lifted their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $510.41.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $506.92, for a total transaction of $39,241,691.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $506.92, for a total transaction of $39,241,691.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $505.75, for a total transaction of $208,369.00. Following the completion of the transaction, the chief operating officer now directly owns 8,031 shares in the company, valued at approximately $4,061,678.25. The disclosure for this sale can be found here. Insiders have sold 391,071 shares of company stock valued at $192,834,857 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Meta Platforms stock traded down $7.14 during trading on Wednesday, hitting $499.49. The stock had a trading volume of 13,060,425 shares, compared to its average volume of 10,555,756. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year 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’s 50 day moving average is $479.79 and its two-hundred day moving average is $445.53. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

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.