CoreFirst Bank & Trust Has $92,000 Position in Meta Platforms, Inc. (NASDAQ:META)

CoreFirst Bank & Trust decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 43.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189 shares of the social networking company’s stock after selling 146 shares during the quarter. CoreFirst Bank & Trust’s holdings in Meta Platforms were worth $92,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital International Investors boosted its position in shares of Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Norges Bank bought a new stake in Meta Platforms in the fourth quarter valued at about $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

META traded up $12.29 on Friday, reaching $465.70. The company had a trading volume of 14,222,388 shares, compared to its average volume of 13,931,730. The stock has a market cap of $1.18 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $542.81. The company’s fifty day moving average is $493.20 and its 200 day moving average is $475.36.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, analysts predict that Meta Platforms, Inc. will post 20.23 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 311,348 shares of company stock worth $154,678,120 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on META shares. Piper Sandler restated an “overweight” rating and set a $545.00 target price (down from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial cut their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have issued 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 stock presently has an average rating of “Moderate Buy” and an average price target of $534.87.

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.