Enterprise Bank & Trust Co Sells 308 Shares of Meta Platforms, Inc. (NASDAQ:META)

Enterprise Bank & Trust Co lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,815 shares of the social networking company’s stock after selling 308 shares during the period. Meta Platforms comprises 2.2% of Enterprise Bank & Trust Co’s investment portfolio, making the stock its 11th biggest holding. Enterprise Bank & Trust Co’s holdings in Meta Platforms were worth $6,763,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in META. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its holdings 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 during the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $49,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 14,874 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $503.38, for a total value of $7,487,274.12. Following the completion of the transaction, the chief executive officer now directly owns 135,442 shares in the company, valued at approximately $68,178,793.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 14,874 shares of Meta Platforms stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $503.38, for a total transaction of $7,487,274.12. Following the completion of the sale, the chief executive officer now owns 135,442 shares of the company’s stock, valued at $68,178,793.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $583.73, for a total value of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares in the company, valued at $6,973,238.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,412 shares of company stock valued at $140,058,708 in the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped 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. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Monness Crespi & Hardt boosted their price objective on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Robert W. Baird raised their target price on Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $605.33.

Meta Platforms Price Performance

NASDAQ:META opened at $590.51 on Thursday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The stock has a fifty day moving average of $534.36 and a 200 day moving average of $504.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.92, a P/E/G ratio of 1.39 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm 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% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.