Central Bank & Trust Co. Sells 1,892 Shares of Meta Platforms, Inc. (NASDAQ:META)

Central Bank & Trust Co. reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,119 shares of the social networking company’s stock after selling 1,892 shares during the period. Meta Platforms comprises 1.7% of Central Bank & Trust Co.’s investment portfolio, making the stock its 13th largest position. Central Bank & Trust Co.’s holdings in Meta Platforms were worth $12,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSM Wealth Advisors LLC raised its stake in shares of Meta Platforms by 16.3% during the third quarter. FSM Wealth Advisors LLC now owns 2,973 shares of the social networking company’s stock valued at $1,702,000 after acquiring an additional 417 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in Meta Platforms by 24.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 8,563 shares of the social networking company’s stock valued at $4,902,000 after purchasing an additional 1,708 shares during the period. Rational Advisors LLC raised its position in Meta Platforms by 16.7% during the 3rd quarter. Rational Advisors LLC now owns 9,365 shares of the social networking company’s stock valued at $5,361,000 after purchasing an additional 1,339 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its holdings in Meta Platforms by 21.2% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 8,801 shares of the social networking company’s stock worth $5,038,000 after buying an additional 1,539 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in shares of Meta Platforms by 121.8% in the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 9,672 shares of the social networking company’s stock worth $5,537,000 after buying an additional 5,312 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 30,581 shares of the company’s stock, valued at $17,360,833.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Monday, August 12th. The stock was sold at an average price of $514.89, for a total transaction of $8,599,692.78. Following the transaction, the chief executive officer now directly owns 89,927 shares of the company’s stock, valued at $46,302,513.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,118 shares of company stock worth $121,237,935. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Monness Crespi & Hardt upped their target price on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their target price on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Oppenheimer boosted their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Raymond James raised their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Finally, Susquehanna lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $591.70 on Friday. The firm has a market cap of $1.50 trillion, a PE ratio of 27.87, a PEG ratio of 1.24 and a beta of 1.22. The stock has a 50 day moving average of $558.95 and a 200 day moving average of $514.71. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm 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%. On average, research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Meta Platforms Company 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.