First National Bank of Mount Dora Trust Investment Services Acquires 5,312 Shares of Meta Platforms, Inc. (NASDAQ:META)

First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 121.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,672 shares of the social networking company’s stock after acquiring an additional 5,312 shares during the quarter. Meta Platforms comprises 1.3% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 28th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Meta Platforms were worth $5,537,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of META. International Assets Investment Management LLC boosted its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms during the 2nd quarter valued at about $595,152,000. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after buying an additional 788,131 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 84 shares of the business’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 completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,118 shares of company stock worth $121,237,935 over the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 3.4 %

Meta Platforms stock opened at $591.70 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $558.95 and its two-hundred day simple moving average is $514.71. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Wall Street Analyst Weigh In

META has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. JMP Securities raised their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

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.