Peoples Bank KS Sells 65 Shares of Meta Platforms, Inc. (NASDAQ:META)

Peoples Bank KS lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,968 shares of the social networking company’s stock after selling 65 shares during the quarter. Meta Platforms makes up approximately 1.1% of Peoples Bank KS’s holdings, making the stock its 28th biggest holding. Peoples Bank KS’s holdings in Meta Platforms were worth $1,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in META. Stone House Investment Management LLC boosted its stake in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC raised its position in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $39,000. Finally, Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price target (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Guggenheim decreased their price target on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $510.41.

Get Our Latest Research Report on Meta Platforms

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $500.32, for a total value of $15,756,577.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The stock was 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 directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 31,493 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $500.32, for a total value of $15,756,577.76. The disclosure for this sale can be found here. Insiders have sold 422,564 shares of company stock worth $208,591,435 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock traded down $7.14 during midday trading on Tuesday, reaching $499.49. The company had a trading volume of 12,850,339 shares, compared to its average volume of 16,611,512. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The stock has a 50 day moving average price of $480.14 and a 200-day moving average price of $444.30.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Meta Platforms Profile

(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.

Further Reading

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

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