Idaho Trust Bank Acquires Shares of 551 Meta Platforms, Inc. (NASDAQ:META)

Idaho Trust Bank acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 551 shares of the social networking company’s stock, valued at approximately $278,000.

Several other large investors have also bought and sold shares of the company. Beverly Hills Private Wealth LLC boosted its position in Meta Platforms by 21.9% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 9,025 shares of the social networking company’s stock valued at $4,551,000 after acquiring an additional 1,622 shares in the last quarter. PFG Advisors lifted its holdings in shares of Meta Platforms by 8.6% during the second quarter. PFG Advisors now owns 8,417 shares of the social networking company’s stock valued at $4,244,000 after purchasing an additional 667 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of Meta Platforms by 0.5% during the second quarter. Thornburg Investment Management Inc. now owns 241,610 shares of the social networking company’s stock valued at $121,825,000 after purchasing an additional 1,095 shares during the last quarter. BOKF NA lifted its holdings in shares of Meta Platforms by 5.6% during the second quarter. BOKF NA now owns 93,311 shares of the social networking company’s stock valued at $47,049,000 after purchasing an additional 4,958 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Meta Platforms by 2.8% during the second quarter. Achmea Investment Management B.V. now owns 235,541 shares of the social networking company’s stock valued at $118,765,000 after purchasing an additional 6,456 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim lifted their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold a total of 357,574 shares of company stock worth $185,587,773 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Down 0.2 %

Shares of Meta Platforms stock opened at $524.62 on Monday. The company has a market capitalization of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a fifty day moving average of $505.13 and a 200 day moving average of $495.51. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

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.