Intrust Bank NA Has $6.05 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Intrust Bank NA boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,083 shares of the social networking company’s stock after purchasing an additional 543 shares during the quarter. Meta Platforms accounts for about 0.7% of Intrust Bank NA’s portfolio, making the stock its 27th largest holding. Intrust Bank NA’s holdings in Meta Platforms were worth $6,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of META. Merrion Investment Management Co LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $240,000. ACT Advisors LLC. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $238,000. Solidarity Wealth LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $5,119,000. Trust Co. of Toledo NA OH increased its position in Meta Platforms by 15.4% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 5,656 shares of the social networking company’s stock worth $1,698,000 after purchasing an additional 755 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $423,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders sold a total of 1,277,048 shares of company stock valued at $620,679,759 in the last quarter. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on META shares. JPMorgan Chase & Co. lowered their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday. Wedbush reduced their target price on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI boosted their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Canaccord Genuity Group boosted their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, TD Cowen reduced their target price on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $509.18.

Meta Platforms Price Performance

META traded down $10.67 on Monday, reaching $432.62. The company had a trading volume of 21,433,940 shares, compared to its average volume of 18,396,262. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.15 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The business has a 50 day simple moving average of $494.48 and a 200 day simple moving average of $405.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 11.49%.

Meta Platforms Company 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.