Riverview Trust Co Has $1.75 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Riverview Trust Co raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,058 shares of the social networking company’s stock after buying an additional 40 shares during the period. Meta Platforms accounts for 1.5% of Riverview Trust Co’s holdings, making the stock its 12th largest holding. Riverview Trust Co’s holdings in Meta Platforms were worth $1,751,000 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 recently modified their holdings of META. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors increased its position in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital Research Global Investors increased its position in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Jennison Associates LLC raised its stake in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Tigress Financial raised their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Bank of America lifted their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Monness Crespi & Hardt increased their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, TD Securities boosted their price target on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $617.37.

Meta Platforms Stock Down 0.1 %

META opened at $576.47 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $602.95. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a fifty day moving average price of $546.53 and a 200-day moving average price of $508.76.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the company earned $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the transaction, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at approximately $2,573,817. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,816 shares of company stock worth $132,421,828 over the last three months. 13.71% of the stock is owned by insiders.

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.