Adirondack Trust Co. Has $1.89 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Adirondack Trust Co. cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,342 shares of the social networking company’s stock after selling 52 shares during the quarter. Adirondack Trust Co.’s holdings in Meta Platforms were worth $1,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of META. Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC lifted its stake in Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares in the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 77,412 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $506.92, for a total value of $39,241,691.04. The disclosure for this sale can be found here. Insiders have sold 391,071 shares of company stock valued at $192,834,857 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $499.49 on Wednesday. The firm has a market cap of $1.27 trillion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s fifty day moving average is $480.14 and its 200-day moving average is $444.30.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on META shares. Loop Capital cut their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Wedbush cut their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. UBS Group dropped their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $510.41.

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.