Meta Platforms, Inc. (NASDAQ:META) Shares Bought by First National Trust Co

First National Trust Co raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,504 shares of the social networking company’s stock after acquiring an additional 30 shares during the period. Meta Platforms makes up 1.3% of First National Trust Co’s holdings, making the stock its 15th biggest holding. First National Trust Co’s holdings in Meta Platforms were worth $33,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Central Valley Advisors LLC raised its stake in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC raised its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares during the last quarter. Kozak & Associates Inc. boosted its position in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after buying an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. KeyCorp boosted their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Robert W. Baird upped their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. TD Cowen lifted their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a report on Thursday, October 17th. UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Down 4.0 %

Shares of Meta Platforms stock opened at $554.08 on Friday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company has a market cap of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. 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 stock has a 50-day moving average price of $568.11 and a 200 day moving average price of $519.97.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the transaction, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,200 shares of company stock valued at $84,533,106. 13.71% of the stock is owned by insiders.

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.