Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Peoples Bank OH

Peoples Bank OH cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,184 shares of the social networking company’s stock after selling 238 shares during the period. Meta Platforms makes up about 1.2% of Peoples Bank OH’s portfolio, making the stock its 21st largest holding. Peoples Bank OH’s holdings in Meta Platforms were worth $2,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bogart Wealth LLC raised its stake in Meta Platforms by 0.5% in the 3rd quarter. Bogart Wealth LLC now owns 24,013 shares of the social networking company’s stock valued at $13,746,000 after purchasing an additional 128 shares during the last quarter. Mason & Associates Inc lifted its position in Meta Platforms by 22.1% during the third quarter. Mason & Associates Inc now owns 1,068 shares of the social networking company’s stock worth $611,000 after buying an additional 193 shares in the last quarter. Yoder Wealth Management Inc. grew its holdings in Meta Platforms by 8.5% in the 3rd quarter. Yoder Wealth Management Inc. now owns 1,415 shares of the social networking company’s stock valued at $810,000 after buying an additional 111 shares in the last quarter. Jackson Wealth Management LLC increased its stake in shares of Meta Platforms by 71.8% in the 3rd quarter. Jackson Wealth Management LLC now owns 10,424 shares of the social networking company’s stock worth $5,967,000 after acquiring an additional 4,355 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of Meta Platforms by 2.4% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,431 shares of the social networking company’s stock worth $1,392,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $573.25 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.45 trillion, a PE ratio of 29.26, a P/E/G ratio of 1.42 and a beta of 1.22. The company’s fifty day simple moving average is $551.05 and its 200-day simple moving average is $510.72. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 10.21%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,817 shares of company stock valued at $132,547,715. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup boosted their target price on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Raymond James lifted their target price on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Mizuho upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $621.63.

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.