Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by Northwest Bank & Trust Co

Northwest Bank & Trust Co reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,517 shares of the social networking company’s stock after selling 66 shares during the period. Meta Platforms accounts for approximately 3.7% of Northwest Bank & Trust Co’s portfolio, making the stock its 5th largest holding. Northwest Bank & Trust Co’s holdings in Meta Platforms were worth $4,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after buying an additional 5,953 shares in the last quarter. Baillie Gifford & Co. raised its stake in Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after purchasing an additional 748,076 shares during the period. ERn Financial LLC increased its stake in Meta Platforms by 59.0% in the 1st quarter. ERn Financial LLC now owns 1,652 shares of the social networking company’s stock worth $802,000 after acquiring an additional 613 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its stake in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after acquiring an additional 352 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group increased their price objective on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a report on Monday. DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target for the company. Roth Mkm raised their price objective on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $608.58.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $501.42, for a total value of $453,785.10. Following the transaction, the insider now directly owns 36,035 shares in the company, valued at $18,068,669.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,412 shares of company stock valued at $140,058,708 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META traded down $4.22 during mid-day trading on Thursday, reaching $586.29. 2,873,953 shares of the company’s stock traded hands, compared to its average volume of 15,371,705. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The business’s 50-day moving average price is $534.36 and its 200-day moving average price is $504.36. 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 (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

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 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 11.49%.

About Meta Platforms

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.