First American Trust FSB Has $17.26 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

First American Trust FSB reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 7.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 29,955 shares of the social networking company's stock after selling 2,531 shares during the period. Meta Platforms comprises 1.6% of First American Trust FSB's holdings, making the stock its 12th largest position. First American Trust FSB's holdings in Meta Platforms were worth $17,264,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of META. Inlight Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms during the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Meta Platforms during the first quarter worth approximately $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the fourth quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. lifted its position in Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after acquiring an additional 40 shares during the last quarter. 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 Christopher K. Cox sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total value of $11,517,000.00. Following the completion of the sale, the insider directly owned 222,205 shares of the company's stock, valued at approximately $170,608,999. This represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $770.00, for a total transaction of $398,090.00. Following the completion of the sale, the chief operating officer directly owned 4,751 shares of the company's stock, valued at $3,658,270. The trade was a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 292,211 shares of company stock valued at $215,232,155. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $780.08 on Thursday. The firm's 50-day moving average price is $720.73 and its 200-day moving average price is $653.97. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $795.46. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 28.24, a P/E/G ratio of 1.64 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's payout ratio is presently 7.60%.

Analyst Ratings Changes

Several equities research analysts have issued reports on META shares. JMP Securities raised their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Robert W. Baird lifted their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. BMO Capital Markets lifted their price target on shares of Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Pivotal Research lifted their price target on shares of Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Roth Capital lifted their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $822.41.

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.

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