First American Trust FSB Has $19.02 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

First American Trust FSB increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 32,486 shares of the social networking company’s stock after buying an additional 213 shares during the period. Meta Platforms accounts for approximately 1.9% of First American Trust FSB’s portfolio, making the stock its 9th biggest holding. First American Trust FSB’s holdings in Meta Platforms were worth $19,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms in the third quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter valued at $41,000. Finally, Cordant Inc. purchased a new position in shares of Meta Platforms in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on META shares. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Barclays boosted their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. BMO Capital Markets increased their target price on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $626.31 on Wednesday. The company has a market cap of $1.59 trillion, a P/E ratio of 26.18, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm’s fifty day moving average is $656.24 and its two-hundred day moving average is $608.00.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the prior year, the company earned $5.33 EPS. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,060 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,311 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $600.21, for a total value of $1,387,085.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 585,605 shares of company stock worth $386,710,448. 13.71% of the stock is currently owned by corporate insiders.

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.