Meta Platforms, Inc. (NASDAQ:META) is Central Pacific Bank Trust Division’s 10th Largest Position

Central Pacific Bank Trust Division increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,850 shares of the social networking company’s stock after purchasing an additional 214 shares during the period. Meta Platforms accounts for 1.1% of Central Pacific Bank Trust Division’s holdings, making the stock its 10th biggest holding. Central Pacific Bank Trust Division’s holdings in Meta Platforms were worth $8,109,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in shares of Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after buying an additional 5,594 shares during the period. Finally, M&G PLC boosted its position in Meta Platforms by 14.6% during the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Guggenheim upped their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group upped their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their price target on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $642.88.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 84 shares of the firm’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 transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. The trade was a 15.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,116 shares of company stock valued at $198,171,544. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.9 %

NASDAQ META traded up $5.52 during trading hours on Friday, hitting $604.76. The company’s stock had a trading volume of 6,740,724 shares, compared to its average volume of 9,655,848. Meta Platforms, Inc. has a twelve month low of $343.40 and a twelve month high of $638.40. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 28.49, a PEG ratio of 1.39 and a beta of 1.20. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $589.25 and a 200 day moving average of $548.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 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.