Meta Platforms, Inc. $META Stock Bought by Glenview Trust Co

Glenview Trust Co grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,049 shares of the social networking company’s stock after acquiring an additional 2,596 shares during the period. Meta Platforms comprises about 2.1% of Glenview Trust Co’s investment portfolio, making the stock its 11th biggest holding. Glenview Trust Co’s holdings in Meta Platforms were worth $152,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Horizons Wealth Management acquired a new stake in Meta Platforms during the 3rd quarter valued at approximately $33,000. Advantage Trust Co purchased a new stake in Meta Platforms during the 2nd quarter worth approximately $28,000. Philadelphia Investment Partners LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at approximately $32,000. Axiom Investment Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at approximately $36,000. Finally, Schuylkill Financial LLC purchased a new position in shares of Meta Platforms during the 2nd quarter valued at approximately $36,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $630.00 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.90 and a quick ratio of 1.90. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $779.82. The company has a fifty day moving average price of $673.61 and a two-hundred day moving average price of $632.21. The company has a market cap of $1.61 trillion, a PE ratio of 21.48, a P/E/G ratio of 1.08 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.86. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. The company had revenue of $64.60 billion for the quarter, compared to analysts’ expectations of $63.34 billion. During the same period in the prior year, the company earned $7.25 earnings per share. The firm’s revenue was up 26.1% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Monday, September 21st were given a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Meta Platforms’s dividend payout ratio is currently 7.16%.

Key Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta acquired Conductor, a startup whose AI agents can work in parallel to build software projects. The deal adds AI coding capabilities, though financial terms were not disclosed. TechCrunch: Meta acquires AI coding startup Conductor
• Positive Sentiment: Investor demand for Meta’s bond offerings was strong: reports said orders for its U.S. sale reached about $58 billion. That suggests investors are willing to finance the company’s AI expansion. Reuters: Meta draws record orders for debut euro bond sale
• Positive Sentiment: Arista Networks said Meta remains one of its customers accounting for more than 10% of revenue, highlighting Meta’s role in demand for AI data-center infrastructure. Arista Networks Cashes In on the AI Infrastructure Build
• Neutral Sentiment: COO Javier Olivan reported stock sales under a pre-arranged Rule 10b5-1 plan. The planned nature of the transactions makes them less informative as a signal about management’s near-term outlook. SEC insider ownership filing
• Negative Sentiment: Meta is raising billions through U.S. and euro bond sales to fund AI infrastructure and expansion. One report said the company agreed to pay 7.5% on 30-year debt, pointing to a substantial financing cost as investment spending grows. Meta Just Paid 7.5% to Borrow for 30 Years

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Evercore reissued an “outperform” rating on shares of Meta Platforms in a research report on Thursday, October 22nd. President Capital raised shares of Meta Platforms from a “neutral” rating to a “buy” rating and upped their price target for the company from $660.00 to $897.00 in a report on Thursday, September 24th. Truist Financial increased their price objective on shares of Meta Platforms from $763.00 to $1,000.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Royal Bank Of Canada raised their price objective on shares of Meta Platforms from $770.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Finally, Rothschild & Co Redburn boosted their target price on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $833.12.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 946 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $614.15, for a total value of $580,985.90. Following the transaction, the chief operating officer owned 4,094 shares of the company’s stock, valued at $2,514,330.10. This trade represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,090 shares of company stock worth $103,150,807 in the last quarter. 13.53% of the stock is owned by corporate insiders.

Meta Platforms Profile

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company’s principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.