Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Citizens National Bank Trust Department

Citizens National Bank Trust Department boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,129 shares of the social networking company’s stock after purchasing an additional 66 shares during the quarter. Citizens National Bank Trust Department’s holdings in Meta Platforms were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. boosted its holdings in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $46,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $572.05 on Thursday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The business has a 50 day moving average price of $557.85 and a two-hundred day moving average price of $514.31. The firm has a market cap of $1.45 trillion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts expect that Meta Platforms, Inc. will post 22.44 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. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $513.09, for a total value of $8,569,629.18. Following the completion of the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. This trade represents 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 accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the transaction, the chief executive officer now owns 98,654 shares of the company’s stock, valued at $50,618,380.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,919 shares of company stock worth $129,296,067. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on META. Loop Capital increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Guggenheim boosted their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Tigress Financial upped their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms 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 stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

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.