Meta Platforms, Inc. (NASDAQ:META) Holdings Cut by Zions Bancorporation N.A.

Zions Bancorporation N.A. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,772 shares of the social networking company’s stock after selling 4,807 shares during the period. Meta Platforms accounts for 1.0% of Zions Bancorporation N.A.’s portfolio, making the stock its 11th biggest holding. Zions Bancorporation N.A.’s holdings in Meta Platforms were worth $12,995,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in META. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.7 %

Shares of META opened at $533.28 on Tuesday. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock’s 50-day moving average price is $505.21 and its 200 day moving average price is $495.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s 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 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Sanford C. Bernstein boosted their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group lifted their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group raised their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 357,574 shares of company stock valued at $185,587,773. Corporate insiders own 13.71% of the company’s stock.

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.