BankPlus Trust Department Has $243,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

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BankPlus Trust Department lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 18.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 421 shares of the social networking company’s stock after purchasing an additional 66 shares during the quarter. BankPlus Trust Department’s holdings in Meta Platforms were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the 1st quarter worth about $28,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,361 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the sale, the insider owned 27,107 shares in the company, valued at $19,559,597.99. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,780 shares of company stock valued at $105,009,697 in the last 90 days. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 1.1%

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Shares of Meta Platforms stock opened at $702.91 on Thursday. The firm has a market capitalization of $1.77 trillion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company’s fifty day moving average price is $681.78 and its two-hundred day moving average price is $636.39. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Oppenheimer raised their price objective on Meta Platforms from $665.00 to $775.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Bank of America raised their price target on Meta Platforms from $690.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Rosenblatt Securities raised their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $828.00 price target (up from $807.00) on shares of Meta Platforms in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $732.67.

View Our Latest Report on Meta Platforms

About Meta Platforms

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)



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