Meta Platforms, Inc. (NASDAQ:META) is Amica Retiree Medical Trust’s 6th Largest Position

Amica Retiree Medical Trust reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,622 shares of the social networking company’s stock after selling 401 shares during the quarter. Meta Platforms accounts for approximately 2.6% of Amica Retiree Medical Trust’s portfolio, making the stock its 6th largest holding. Amica Retiree Medical Trust’s holdings in Meta Platforms were worth $2,706,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in META. JDM Financial Group LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the third quarter valued at approximately $36,000. Millstone Evans Group LLC bought a new position in Meta Platforms during the fourth quarter valued at $40,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter worth $41,000. Finally, Cordant Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at $59,000. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at $15,422,186.45. This represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 584,823 shares of company stock worth $386,274,777. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $602.58 on Friday. The business has a 50 day moving average of $655.95 and a 200 day moving average of $607.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a market cap of $1.53 trillion, a PE ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is 8.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald lifted their price objective on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. Citigroup raised their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Arete Research upgraded Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, KeyCorp decreased their price target on Meta Platforms from $750.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.