CENTRAL TRUST Co Has $15.54 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

CENTRAL TRUST Co raised its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,010 shares of the social networking company’s stock after purchasing an additional 592 shares during the quarter. CENTRAL TRUST Co’s holdings in Meta Platforms were worth $15,543,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Activest Wealth Management grew its position in Meta Platforms by 179.4% in the first quarter. Activest Wealth Management now owns 3,752 shares of the social networking company’s stock worth $1,822,000 after acquiring an additional 2,409 shares in the last quarter. Oxler Private Wealth LLC lifted its stake in shares of Meta Platforms by 47.8% in the 1st quarter. Oxler Private Wealth LLC now owns 27,706 shares of the social networking company’s stock valued at $13,453,000 after purchasing an additional 8,963 shares during the last quarter. Berkshire Bank boosted its holdings in Meta Platforms by 45.2% in the first quarter. Berkshire Bank now owns 2,531 shares of the social networking company’s stock worth $1,229,000 after purchasing an additional 788 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in Meta Platforms by 19.7% during the first quarter. Newbridge Financial Services Group Inc. now owns 6,804 shares of the social networking company’s stock worth $3,304,000 after buying an additional 1,121 shares during the last quarter. Finally, Fulcrum Equity Management bought a new position in Meta Platforms during the first quarter valued at about $266,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock traded down $4.21 during midday trading on Tuesday, reaching $464.63. 11,732,473 shares of the company’s stock traded hands, compared to its average volume of 17,666,227. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.18 trillion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.22 and a beta of 1.21. The company has a 50-day simple moving average of $485.26 and a two-hundred day simple moving average of $423.55. Meta Platforms, Inc. has a 1-year low of $244.95 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during 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%. On average, analysts anticipate that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $466.08, for a total transaction of $45,253,105.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,014,637 shares of company stock valued at $499,004,990. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on META shares. Wedbush lowered their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Evercore ISI lifted their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Sanford C. Bernstein cut their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $509.80.

View Our Latest Research Report on Meta Platforms

About Meta Platforms

(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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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