Security National Bank Has $1.59 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Security National Bank increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 943.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,765 shares of the social networking company’s stock after purchasing an additional 2,500 shares during the quarter. Security National Bank’s holdings in Meta Platforms were worth $1,594,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors boosted its holdings in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $19,949,512,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,831 shares of company stock worth $83,868,872. Corporate insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on META. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Benchmark dropped their price target on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Scotiabank dropped their price target on shares of Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a research report on Monday, April 21st. UBS Group reissued a “buy” rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a research report on Thursday. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $664.00 price target on shares of Meta Platforms in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $719.52.

Meta Platforms Price Performance

NASDAQ:META opened at $733.63 on Friday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company’s 50-day moving average price is $638.51 and its two-hundred day moving average price is $626.48. The firm has a market cap of $1.84 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business earned $4.71 earnings per share. Meta Platforms’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is 8.19%.

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.