Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,915 shares of the social networking company’s stock after buying an additional 2,747 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Meta Platforms were worth $16,552,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in META. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised 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 worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in Meta Platforms in the first quarter valued at $44,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Pivotal Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, October 1st. They set a “buy” rating and a $780.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, two 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $605.33.

Insider Activity

In other news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. 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 the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $501.42, for a total transaction of $453,785.10. Following the completion of the transaction, the insider now owns 36,035 shares of the company’s stock, valued at $18,068,669.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 266,412 shares of company stock valued at $140,058,708. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $590.51 on Thursday. The firm has a fifty day moving average of $534.36 and a two-hundred day moving average of $504.36. The firm has a market cap of $1.50 trillion, a P/E ratio of 33.92, a P/E/G ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $3.23 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid 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 0.34%. Meta Platforms’s payout ratio is 11.49%.

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.