North Dallas Bank & Trust Co. Makes New Investment in Meta Platforms, Inc. $META

North Dallas Bank & Trust Co. bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,046 shares of the social networking company’s stock, valued at approximately $2,986,000. Meta Platforms accounts for approximately 2.3% of North Dallas Bank & Trust Co.’s portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Meta Platforms by 0.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after acquiring an additional 13 shares during the period. Pachira Investments Inc. grew its position in shares of Meta Platforms by 3.0% in the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock valued at $360,000 after purchasing an additional 14 shares in the last quarter. Hemington Wealth Management raised its stake in shares of Meta Platforms by 0.6% during the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after purchasing an additional 14 shares during the period. Vista Capital Partners Inc. lifted its holdings in Meta Platforms by 1.3% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after purchasing an additional 14 shares in the last quarter. Finally, Myecfo LLC boosted its stake in Meta Platforms by 2.0% in the 2nd quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock worth $573,000 after purchasing an additional 15 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 2,610 shares of the business’s stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $1,590,690.60. Following the completion of the sale, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at $5,962,956.64. The trade was a 21.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 40,977 shares of company stock valued at $25,834,356. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $644.23 on Monday. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a fifty day moving average of $665.92 and a 200-day moving average of $707.68. The company has a market capitalization of $1.62 trillion, a P/E ratio of 28.46, a P/E/G ratio of 1.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.03 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on META shares. TD Cowen decreased their price target on Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $870.00 target price (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Citizens Jmp reissued an “outperform” rating and issued a $900.00 price target (up from $750.00) on shares of Meta Platforms in a report on Monday, November 24th. Wells Fargo & Company decreased their price target on shares of Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Jefferies Financial Group lowered their price objective on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $819.46.

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.