Pitcairn Co. Has $15.30 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Pitcairn Co. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 12.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,730 shares of the social networking company’s stock after selling 3,873 shares during the period. Meta Platforms makes up about 0.9% of Pitcairn Co.’s portfolio, making the stock its 16th largest position. Pitcairn Co.’s holdings in Meta Platforms were worth $15,301,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of 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 in the last quarter. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the third quarter valued at about $49,000. Finally, NewSquare Capital LLC increased its position in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the transaction, the chief executive officer now owns 531,884 shares in the company, valued at approximately $274,643,622.24. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,218 shares of company stock worth $65,819,414. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META opened at $565.11 on Tuesday. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.23 and a beta of 1.22. The company’s fifty day moving average price is $573.38 and its two-hundred day moving average price is $525.35. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Pivotal Research increased their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. KeyCorp lifted their price objective on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Sanford C. Bernstein increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

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.