Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Reduced by Hancock Whitney Corp

Hancock Whitney Corp cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,771 shares of the social networking company’s stock after selling 272 shares during the period. Meta Platforms accounts for 1.7% of Hancock Whitney Corp’s holdings, making the stock its 10th biggest holding. Hancock Whitney Corp’s holdings in Meta Platforms were worth $49,802,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the transaction, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $514.41, for a total value of $211,936.92. Following the sale, the chief operating officer now owns 7,207 shares in the company, valued at $3,707,352.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 365,761 shares of company stock valued at $190,846,038. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $564.41 on Tuesday. The firm has a 50-day simple moving average of $507.58 and a 200-day simple moving average of $497.28. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $573.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during 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%. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 EPS. On average, equities analysts predict 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. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on META shares. The Goldman Sachs Group upped their target price on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Loop Capital boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $578.92.

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.