Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,447 shares of the social networking company’s stock after selling 324 shares during the period. Meta Platforms accounts for about 1.2% of Pinnacle Bancorp Inc.’s portfolio, making the stock its 17th largest position. Pinnacle Bancorp Inc.’s holdings in Meta Platforms were worth $3,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 3rd quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the fourth quarter valued at $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter worth about $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Truist Financial lifted their price target on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Sanford C. Bernstein increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Raymond James reaffirmed a “strong-buy” rating and set a $675.00 target price on shares of Meta Platforms in a research note on Monday, November 25th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Meta Platforms Stock Down 0.9 %

Shares of META opened at $611.30 on Friday. The company’s 50-day simple moving average is $595.92 and its 200-day simple moving average is $555.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The stock has a market capitalization of $1.54 trillion, a PE ratio of 28.79, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) 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%. Analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.33%. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at approximately $310,890,460.68. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 496,174 shares of company stock worth $301,408,499 in the last quarter. 13.71% of the stock is owned by company insiders.

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.