CNB Bank Has $3.54 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

CNB Bank grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,191 shares of the social networking company’s stock after purchasing an additional 222 shares during the period. Meta Platforms makes up about 1.6% of CNB Bank’s holdings, making the stock its 10th biggest position. CNB Bank’s holdings in Meta Platforms were worth $3,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Lane & Associates LLC purchased a new position in Meta Platforms during the 1st quarter valued at about $200,000. First PREMIER Bank bought a new position in shares of Meta Platforms in the first quarter valued at approximately $49,000. CHICAGO TRUST Co NA grew its stake in Meta Platforms by 10.6% during the first quarter. CHICAGO TRUST Co NA now owns 5,332 shares of the social networking company’s stock valued at $2,589,000 after acquiring an additional 513 shares in the last quarter. Lloyd Advisory Services LLC. increased its holdings in Meta Platforms by 456.7% during the 1st quarter. Lloyd Advisory Services LLC. now owns 6,780 shares of the social networking company’s stock worth $3,292,000 after acquiring an additional 5,562 shares during the period. Finally, Range Financial Group LLC lifted its stake in Meta Platforms by 413.4% in the 1st quarter. Range Financial Group LLC now owns 3,840 shares of the social networking company’s stock worth $1,865,000 after purchasing an additional 3,092 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares of the company’s stock, valued at $19,641,281.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total transaction of $533,922.85. Following the completion of the sale, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,911 shares of company stock valued at $131,978,559. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $575.16 on Tuesday. The company’s fifty day moving average price is $547.72 and its 200-day moving average price is $509.22. The stock has a market cap of $1.46 trillion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on META. Susquehanna boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. DA Davidson assumed coverage on Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Bank of America boosted their price objective on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Guggenheim lifted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $617.37.

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.