Security National Bank of Sioux City Iowa IA Sells 150 Shares of Meta Platforms, Inc. (NASDAQ:META)

Security National Bank of Sioux City Iowa IA lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 17.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 732 shares of the social networking company’s stock after selling 150 shares during the period. Security National Bank of Sioux City Iowa IA’s holdings in Meta Platforms were worth $369,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Smith Thornton Advisors LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $1,967,000. Scientech Research LLC boosted its position in shares of Meta Platforms by 145.5% in the second quarter. Scientech Research LLC now owns 5,777 shares of the social networking company’s stock valued at $2,913,000 after acquiring an additional 3,424 shares during the period. Sender Co & Partners Inc. acquired a new position in shares of Meta Platforms in the second quarter valued at about $428,000. Mackenzie Financial Corp increased its position in Meta Platforms by 0.3% during the second quarter. Mackenzie Financial Corp now owns 971,497 shares of the social networking company’s stock worth $489,848,000 after acquiring an additional 3,040 shares during the period. Finally, Matrix Private Capital Group LLC acquired a new stake in Meta Platforms in the 2nd quarter worth about $205,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $567.36 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $577.40. The firm has a market cap of $1.44 trillion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The firm’s fifty day moving average is $516.19 and its 200-day moving average is $499.60.

Meta Platforms (NASDAQ:META) last announced its 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research report on Thursday. Jefferies Financial Group boosted their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Guggenheim raised their price objective on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $591.23.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $503.08, for a total transaction of $8,402,442.16. Following the completion of the sale, the chief executive officer now directly owns 204,280 shares in the company, valued at $102,769,182.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $503.08, for a total transaction of $8,402,442.16. Following the sale, the chief executive officer now owns 204,280 shares in the company, valued at approximately $102,769,182.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,950 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 value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock worth $179,431,101. Company insiders own 13.71% of the company’s stock.

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.