City State Bank Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

City State Bank increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,865 shares of the social networking company’s stock after purchasing an additional 20 shares during the quarter. City State Bank’s holdings in Meta Platforms were worth $1,075,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Radnor Capital Management LLC grew its position in shares of Meta Platforms by 3.5% during the first quarter. Radnor Capital Management LLC now owns 1,620 shares of the social networking company’s stock worth $934,000 after purchasing an additional 55 shares in the last quarter. Impact Capital Partners LLC boosted its stake in Meta Platforms by 2.5% during the first quarter. Impact Capital Partners LLC now owns 4,991 shares of the social networking company’s stock valued at $2,877,000 after buying an additional 122 shares during the last quarter. Horizon Wealth Management LLC boosted its stake in Meta Platforms by 11.6% during the first quarter. Horizon Wealth Management LLC now owns 1,942 shares of the social networking company’s stock valued at $1,119,000 after buying an additional 202 shares during the last quarter. Tower Wealth Partners Inc. boosted its stake in Meta Platforms by 40.4% during the first quarter. Tower Wealth Partners Inc. now owns 757 shares of the social networking company’s stock valued at $436,000 after buying an additional 218 shares during the last quarter. Finally, Constitution Capital LLC boosted its stake in Meta Platforms by 70.4% during the first quarter. Constitution Capital LLC now owns 2,905 shares of the social networking company’s stock valued at $1,674,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $671.00, for a total transaction of $348,249.00. Following the transaction, the insider now directly owns 29,702 shares in the company, valued at $19,930,042. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $609.00, for a total value of $370,272.00. Following the transaction, the chief operating officer now owns 8,054 shares in the company, valued at approximately $4,904,886. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,171 shares of company stock valued at $35,163,457. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ META opened at $697.71 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $587.67 and a two-hundred day simple moving average of $614.84. The firm has a market cap of $1.75 trillion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cantor Fitzgerald increased their price target on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Rosenblatt Securities increased their price target on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. The Goldman Sachs Group increased their price target on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Royal Bank of Canada reissued an “outperform” rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Barclays dropped their price target on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $702.48.

Meta Platforms 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.