OLD National Bancorp IN trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,941 shares of the social networking company's stock after selling 2,582 shares during the quarter. Meta Platforms comprises about 1.0% of OLD National Bancorp IN's investment portfolio, making the stock its 17th largest holding. OLD National Bancorp IN's holdings in Meta Platforms were worth $39,158,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC raised its position in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after purchasing an additional 30 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on META. Bank of America increased their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group increased their price target on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Pivotal Research cut their price target on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group cut their price target on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, DA Davidson cut their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $702.48.
Get Our Latest Research Report on Meta Platforms
Meta Platforms Trading Up 1.9%
Shares of META stock opened at $697.71 on Monday. The stock's fifty day moving average is $587.67 and its two-hundred day moving average is $615.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 29.17, a PEG ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio is presently 8.19%.
Insider Transactions at Meta Platforms
In related news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the completion of the sale, the insider now directly owns 29,702 shares of the company's stock, valued at approximately $19,930,042. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the sale, the chief operating officer now directly owns 7,446 shares of the company's stock, valued at $4,523,445. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,563 shares of company stock worth $34,793,185 in the last quarter. Company insiders own 13.61% of the company's stock.
Meta Platforms Company Profile
(
Free Report)
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.
Recommended Stories
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.
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
