Coastline Trust Co Purchases 3,501 Shares of Meta Platforms, Inc. (NASDAQ:META)

Coastline Trust Co raised its position in Meta Platforms, Inc. (NASDAQ:META) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,896 shares of the social networking company’s stock after acquiring an additional 3,501 shares during the quarter. Meta Platforms makes up approximately 2.5% of Coastline Trust Co’s portfolio, making the stock its 9th biggest position. Coastline Trust Co’s holdings in Meta Platforms were worth $21,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the third quarter worth approximately $46,000. West Financial Advisors LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its stake in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.1 %

Shares of Meta Platforms stock opened at $554.40 on Tuesday. The stock has a 50 day moving average price of $569.10 and a two-hundred day moving average price of $521.96. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.11, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the sale, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. This trade represents a 36.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,593 shares of company stock worth $75,253,970. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on META shares. Mizuho raised their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Susquehanna raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.