MassMutual Private Wealth & Trust FSB Sells 920 Shares of Meta Platforms, Inc. (NASDAQ:META)

MassMutual Private Wealth & Trust FSB decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,430 shares of the social networking company’s stock after selling 920 shares during the period. Meta Platforms comprises approximately 1.6% of MassMutual Private Wealth & Trust FSB’s portfolio, making the stock its 10th largest position. MassMutual Private Wealth & Trust FSB’s holdings in Meta Platforms were worth $57,632,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of META. Fiera Capital Corp lifted its stake in Meta Platforms by 35.1% in the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares during the last quarter. Harmony Asset Management LLC raised its holdings in shares of Meta Platforms by 55.9% in the 2nd quarter. Harmony Asset Management LLC now owns 1,624 shares of the social networking company’s stock valued at $819,000 after purchasing an additional 582 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its position in shares of Meta Platforms by 6.2% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 90,060 shares of the social networking company’s stock worth $45,410,000 after purchasing an additional 5,250 shares during the last quarter. J. Stern & Co. LLP grew its stake in shares of Meta Platforms by 4.2% during the second quarter. J. Stern & Co. LLP now owns 111,306 shares of the social networking company’s stock worth $56,123,000 after purchasing an additional 4,487 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its holdings in Meta Platforms by 22.4% in the second quarter. Steel Grove Capital Advisors LLC now owns 2,095 shares of the social networking company’s stock valued at $1,056,000 after buying an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the sale, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders sold a total of 567,111 shares of company stock worth $345,453,784 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on META. Raymond James lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Barclays boosted their target price on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald dropped their target price on shares of Meta Platforms from $730.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $652.98.

Meta Platforms Stock Performance

Shares of META opened at $623.50 on Thursday. The company has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms, Inc. has a 52-week low of $382.08 and a 52-week high of $638.40. The company has a 50-day simple moving average of $598.87 and a 200-day simple moving average of $558.76. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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