1 week Ago By ABMN Staff
First National Trust Co reduced its stake in Meta Platforms, Inc. ( NASDAQ:META – Free Report ) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC).
The fund owned 58,474 shares of the social networking company’s stock after selling 123 shares during the period. Meta Platforms accounts for approximately 1.2% of First National Trust Co’s investment portfolio, making the stock its 16th biggest position.
First National Trust Co’s holdings in Meta Platforms were worth $29,484,000 as of its most recent SEC filing. Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FSB Premier Wealth Management Inc.
increased its holdings in shares of Meta Platforms by 63.1% in the second quarter. FSB Premier Wealth Management Inc.
now owns 4,236 shares of the social networking company’s stock valued at $2,136,000 after purchasing an additional 1,639 shares during the last quarter. Fortem Financial Group LLC boosted its position in shares of Meta Platforms by 1.4% in the second quarter.
Fortem Financial Group LLC now owns 7,045 shares of the social networking company’s stock valued at $3,552,000 after acquiring an additional 97 shares during the period. Archer Investment Corp boosted its position in shares of Meta Platforms by 0.5% in the second quarter.
Archer Investment Corp now owns 8,259 shares of the social networking company’s stock valued at $4,164,000 after acquiring an additional 41 shares during the period. Founders Financial Securities LLC boosted its position in shares of Meta Platforms by 13.3% in the second quarter.
Founders Financial Securities LLC now owns 8,332 shares of the social networking company’s stock valued at $4,201,000 after acquiring an additional 977 shares during the period. Finally, Oxinas Partners Wealth Management LLC boosted its position in shares of Meta Platforms by 125.9% in the second quarter.
Oxinas Partners Wealth Management LLC now owns 2,322 shares of the social networking company’s stock valued at $1,171,000 after acquiring an additional 1,294 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Meta Platforms In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.
00. Following the transaction, the insider now directly owns 38,722 shares in the company, valued at approximately $20,135,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link .
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.
00. Following the transaction, the insider now directly owns 38,722 shares in the company, valued at approximately $20,135,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link .
Also, Director Peggy Alford sold 1,052 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total value of $503,908.
00. Following the transaction, the director now owns 6,168 shares in the company, valued at $2,954,472. The disclosure for this sale can be found here .
In the last 90 days, insiders sold 390,977 shares of company stock valued at $202,384,548. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance Meta Platforms ( NASDAQ:META – Get Free Report ) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.
70 by $0.46. The business had revenue of $39.
07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.
34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.
1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.23 EPS.
Research analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.
Meta Platforms Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a dividend of $0.50 per share.
This represents a $2.00 dividend on an annualized basis and a yield of 0.40%.
The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.
Wall Street Analyst Weigh In META has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of Meta Platforms from $545.00 to $575.
00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th.
Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday. UBS Group upped their price objective on shares of Meta Platforms from $630.00 to $635.
00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Tigress Financial upped their price objective 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.
com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $576.66. Read Our Latest Report on Meta Platforms Meta Platforms Profile ( 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. See Also Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.
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