Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Norway Savings Bank

Norway Savings Bank boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,669 shares of the social networking company’s stock after acquiring an additional 81 shares during the period. Meta Platforms comprises about 1.1% of Norway Savings Bank’s holdings, making the stock its 26th biggest holding. Norway Savings Bank’s holdings in Meta Platforms were worth $2,100,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. lifted its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Meta Platforms during the first quarter worth about $44,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the sale, the insider now owns 34,197 shares of the company’s stock, valued at $20,172,468.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the sale, the insider now owns 34,197 shares in the company, valued at approximately $20,172,468.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,826 shares of company stock valued at $131,791,613 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup raised their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wolfe Research started coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. Truist Financial lifted their price objective on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $613.46.

Meta Platforms Trading Down 1.3 %

Shares of NASDAQ META traded down $7.42 during mid-day trading on Tuesday, hitting $583.00. 4,323,625 shares of the company traded hands, compared to its average volume of 15,270,771. The business has a 50 day moving average of $540.41 and a two-hundred day moving average of $506.41. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.45 and a beta of 1.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.