Keybank National Association OH Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Keybank National Association OH increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 111,170 shares of the social networking company's stock after buying an additional 2,469 shares during the quarter. Keybank National Association OH's holdings in Meta Platforms were worth $64,074,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in META. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $6.08 during trading on Monday, reaching $725.09. 2,495,588 shares of the company traded hands, compared to its average volume of 14,498,155. The stock has a market cap of $1.82 trillion, a P/E ratio of 28.26, a PEG ratio of 1.76 and a beta of 1.28. The firm's fifty day simple moving average is $658.89 and its 200 day simple moving average is $630.28. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results 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. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the business earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is currently 8.19%.

Analysts Set New Price Targets

META has been the subject of a number of recent research reports. Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. TD Securities decreased their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Roth Capital boosted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $719.29.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the transaction, the chief executive officer owned 118,279 shares in the company, valued at approximately $82,928,955.27. This represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the sale, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,677 shares of company stock worth $105,221,340 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

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.