Indiana Trust & Investment Management Co Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Indiana Trust & Investment Management Co grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,484 shares of the social networking company’s stock after buying an additional 960 shares during the period. Meta Platforms makes up about 1.9% of Indiana Trust & Investment Management Co’s holdings, making the stock its 11th biggest holding. Indiana Trust & Investment Management Co’s holdings in Meta Platforms were worth $5,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JDM Financial Group LLC bought a new position in Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the 4th quarter worth about $41,000. Cordant Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new position in shares of Meta Platforms in the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Piper Sandler increased their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Mizuho raised their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets raised their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $717.90.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total transaction of $232,424.01. Following the completion of the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 751,033 shares of company stock valued at $480,911,671. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $736.67 on Tuesday. The company has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The stock has a fifty day simple moving average of $641.19 and a 200 day simple moving average of $585.97. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm posted $5.33 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

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.