Passumpsic Savings Bank Sells 200 Shares of Meta Platforms, Inc. (NASDAQ:META)

Passumpsic Savings Bank reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,364 shares of the social networking company’s stock after selling 200 shares during the period. Meta Platforms makes up 2.0% of Passumpsic Savings Bank’s portfolio, making the stock its 17th biggest position. Passumpsic Savings Bank’s holdings in Meta Platforms were worth $3,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JDM Financial Group LLC bought a new position in shares of Meta Platforms in the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the 3rd quarter worth approximately $36,000. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter worth $46,000. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 22,946 shares of Meta Platforms stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $621.84, for a total value of $14,268,740.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the transaction, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. This trade represents a 2.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,201 shares of company stock worth $95,420,559 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on META shares. Stifel Nicolaus upped their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Guggenheim increased their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Mizuho lifted their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Truist Financial lifted their price objective on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $635.20.

Meta Platforms Trading Up 0.9 %

META opened at $619.32 on Wednesday. The company has a market capitalization of $1.56 trillion, a P/E ratio of 29.17, a PEG ratio of 1.37 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $319.99 and a 52 week high of $629.79. The stock’s fifty day moving average is $581.32 and its two-hundred day moving average is $535.09.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Meta Platforms Company 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.