OLD National Bancorp IN Buys 12,091 Shares of Meta Platforms, Inc. $META

Key Points

• OLD National Bancorp IN increased its stake in Meta Platforms, Inc. by 17.8%, acquiring 12,091 shares in the second quarter, which now constitutes 1.1% of its portfolio.
• Meta Platforms reported a quarterly EPS of $7.14, significantly exceeding analysts' expectations of $5.75, along with a revenue of $47.52 billion, marking a 21.6% year-over-year increase.
• The company also announced a quarterly dividend of $0.525 per share, emphasizing a low payout ratio of 7.60%.

OLD National Bancorp IN increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,032 shares of the social networking company's stock after purchasing an additional 12,091 shares during the quarter. Meta Platforms makes up 1.1% of OLD National Bancorp IN's portfolio, making the stock its 15th biggest holding. OLD National Bancorp IN's holdings in Meta Platforms were worth $59,071,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Csenge Advisory Group grew its position in shares of Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after purchasing an additional 1,019 shares in the last quarter. ARQ Wealth Advisors LLC grew its position in shares of Meta Platforms by 4.5% during the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. purchased a new stake in shares of Meta Platforms during the first quarter worth about $284,000. Infusive Asset Management Inc. grew its position in shares of Meta Platforms by 10.7% during the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company's stock worth $13,614,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Spirepoint Private Client LLC grew its position in shares of Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company's stock worth $3,011,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 18,332 shares of Meta Platforms stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $764.71, for a total value of $14,018,663.72. Following the completion of the transaction, the chief financial officer owned 84,141 shares in the company, valued at approximately $64,343,464.11. The trade was a 17.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 11,694 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $775.00, for a total value of $9,062,850.00. Following the transaction, the chief technology officer owned 1,799 shares of the company's stock, valued at approximately $1,394,225. The trade was a 86.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,665 shares of company stock worth $164,575,272 in the last 90 days. Company insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $705.30 on Monday. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a 50 day moving average price of $752.20 and a 200-day moving average price of $679.78. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The company's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. Equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a $0.525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms's payout ratio is 7.60%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Pivotal Research increased their target price on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley raised their price target on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Scotiabank raised their price target on Meta Platforms from $675.00 to $685.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Sanford C. Bernstein raised their price target on Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Meta Platforms in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $830.68.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.