Field & Main Bank Acquires 163 Shares of Meta Platforms, Inc. (NASDAQ:META)

Field & Main Bank lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,676 shares of the social networking company’s stock after buying an additional 163 shares during the period. Meta Platforms comprises 1.1% of Field & Main Bank’s holdings, making the stock its 21st largest position. Field & Main Bank’s holdings in Meta Platforms were worth $2,717,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC increased its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp raised its position in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $39,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on META. Wolfe Research lowered their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank of Canada dropped their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America upped their price objective on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Mizuho lifted their target price on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total value of $228,664.00. Following the transaction, the insider now owns 34,720 shares in the company, valued at $14,026,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total transaction of $228,664.00. Following the transaction, the insider now directly owns 34,720 shares of the company’s stock, valued at $14,026,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,277,048 shares of company stock valued at $620,679,759. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 2.4 %

Shares of NASDAQ META traded down $10.67 during trading on Monday, hitting $432.62. 21,472,414 shares of the company traded hands, compared to its average volume of 18,429,988. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s fifty day moving average is $493.66 and its 200 day moving average is $406.15. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.15 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly 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 business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts predict that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.46%. Meta Platforms’s payout ratio is 11.49%.

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.