First National Bank of Mount Dora Trust Investment Services Purchases 1,490 Shares of Meta Platforms, Inc. (NASDAQ:META)

First National Bank of Mount Dora Trust Investment Services boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,426 shares of the social networking company's stock after acquiring an additional 1,490 shares during the quarter. Meta Platforms accounts for 1.6% of First National Bank of Mount Dora Trust Investment Services' portfolio, making the stock its 24th largest position. First National Bank of Mount Dora Trust Investment Services' holdings in Meta Platforms were worth $6,585,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in META. Fjell Capital LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $325,000. Daner Wealth Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth $334,000. Appleton Partners Inc. MA lifted its holdings in shares of Meta Platforms by 3.7% in the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock valued at $15,406,000 after buying an additional 951 shares during the period. Finally, Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the transaction, the chief operating officer now owns 7,446 shares in the company, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,201 shares of company stock worth $56,377,837 in the last quarter. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

META stock traded down $10.49 during midday trading on Friday, hitting $682.87. The stock had a trading volume of 9,259,272 shares, compared to its average volume of 14,501,078. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 1.42 and a beta of 1.26. The stock has a 50-day simple moving average of $604.07 and a 200 day simple moving average of $619.26. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 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, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Wall Street Analyst Weigh In

Several brokerages have commented on META. Scotiabank dropped their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday, April 21st. JMP Securities restated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Susquehanna reduced their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Finally, Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $704.26.

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.