Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Park National Corp OH

Park National Corp OH cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,923 shares of the social networking company’s stock after selling 461 shares during the quarter. Park National Corp OH’s holdings in Meta Platforms were worth $3,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Stone House Investment Management LLC grew its stake in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Quest Partners LLC acquired a new stake in Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $503.34, for a total value of $8,406,784.68. Following the completion of the sale, the chief executive officer now owns 275,297 shares of the company’s stock, valued at $138,567,991.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 391,071 shares of company stock valued at $192,834,857. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup lowered their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. BNP Paribas started coverage on Meta Platforms in a report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $510.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $499.49 on Wednesday. The stock has a market cap of $1.27 trillion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The business has a fifty day simple moving average of $480.14 and a 200-day simple moving average of $444.30. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be given a $0.50 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.