Camden National Bank Has $473,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Camden National Bank cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 807 shares of the social networking company’s stock after selling 64 shares during the period. Camden National Bank’s holdings in Meta Platforms were worth $473,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of META. Seelaus Asset Management LLC increased its position in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning increased its position in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC increased its position in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares during the period. VeraBank N.A. increased its position in Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares during the period. Finally, LGL Partners LLC increased its position in Meta Platforms by 0.6% during the 4th quarter. LGL Partners LLC now owns 2,834 shares of the social networking company’s stock valued at $1,659,000 after purchasing an additional 16 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.3 %

Shares of META opened at $619.56 on Thursday. The business has a 50-day moving average of $658.13 and a 200 day moving average of $602.08. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a market cap of $1.57 trillion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company posted $5.33 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.34%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Wolfe Research raised their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. Finally, Barclays raised their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $719.26.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $629.56, for a total transaction of $260,008.28. Following the completion of the transaction, the chief operating officer now owns 18,340 shares of the company’s stock, valued at $11,546,130.40. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 22,035 shares of Meta Platforms stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $618.63, for a total value of $13,631,512.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 725,689 shares of company stock valued at $473,072,897. 13.71% of the stock is owned by insiders.

About Meta Platforms

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.