Burke & Herbert Bank & Trust Co. Has $2.19 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Burke & Herbert Bank & Trust Co. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,829 shares of the social networking company’s stock after selling 72 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in Meta Platforms were worth $2,192,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Capital Research Global Investors increased its stake in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Jennison Associates LLC raised its holdings in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms in the second quarter valued at $595,152,000. Finally, Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.0 %

Meta Platforms stock opened at $573.25 on Monday. The stock has a market cap of $1.45 trillion, a P/E ratio of 29.26, a PEG ratio of 1.42 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The firm’s fifty day moving average price is $551.05 and its 200-day moving average price is $510.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 10.21%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on META shares. TD Securities upped their target price on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Evercore ISI raised their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. 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. Finally, Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Insider Activity

In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is currently owned by corporate insiders.

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.