Intrust Bank NA Has $10.52 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Intrust Bank NA increased its holdings in Meta Platforms, Inc. by 5.3% in the first quarter, owning 18,253 shares valued at approximately $10.52 million.
• Meta Platforms reported impressive earnings, with an EPS of $7.14 beating estimates, and revenue of $47.52 billion reflecting a 21.6% increase year-over-year.
• The company declared a quarterly dividend of $0.525 per share, representing an annual yield of 0.3%, with a dividend payout ratio of 7.60%.

Intrust Bank NA lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,253 shares of the social networking company's stock after acquiring an additional 918 shares during the period. Meta Platforms makes up 1.0% of Intrust Bank NA's portfolio, making the stock its 19th biggest position. Intrust Bank NA's holdings in Meta Platforms were worth $10,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in META. Valley Financial Group Inc. boosted its holdings in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after buying an additional 14 shares during the period. Lantern Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after buying an additional 14 shares during the period. ABLE Financial Group LLC boosted its holdings in shares of Meta Platforms by 0.7% in the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after buying an additional 15 shares during the period. Mosaic Family Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 1.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after buying an additional 17 shares during the period. Finally, Orin Green Financial LLC boosted its holdings in shares of Meta Platforms by 2.2% in the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock worth $465,000 after buying an additional 17 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.4%

Meta Platforms stock traded down $3.43 during trading hours on Monday, reaching $765.87. 7,597,659 shares of the company's stock traded hands, compared to its average volume of 15,441,953. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $784.75. The firm has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.60 and a beta of 1.27. The firm's 50 day moving average is $714.53 and its 200-day moving average is $651.30.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for 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%. Meta Platforms's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $765.11, for a total transaction of $12,124,698.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 515 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the completion of the transaction, the insider directly owned 25,035 shares of the company's stock, valued at $19,436,673.30. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,263 shares of company stock valued at $211,724,057 in the last quarter. 13.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Bank of America raised their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. DA Davidson raised their price target on shares of Meta Platforms from $650.00 to $825.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Citizens Jmp raised their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

About Meta Platforms

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.