Indiana Trust & Investment Management CO Acquires 1,731 Shares of Meta Platforms, Inc. (NASDAQ:META)

Indiana Trust & Investment Management CO boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,045 shares of the social networking company’s stock after buying an additional 1,731 shares during the quarter. Meta Platforms makes up about 1.6% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 14th largest holding. Indiana Trust & Investment Management CO’s holdings in Meta Platforms were worth $3,906,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its position in shares of 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 during the period. California State Teachers Retirement System lifted its holdings in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC lifted its holdings in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP lifted its holdings in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total value of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now directly owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The disclosure for this sale can be found here. Insiders have sold 233,512 shares of company stock valued at $113,597,536 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

META traded down $15.34 during trading on Friday, reaching $504.22. 15,819,584 shares of the company’s stock were exchanged, compared to its average volume of 16,444,197. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.21. The company’s fifty day simple moving average is $479.53 and its 200-day simple moving average is $452.69.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, research analysts predict that Meta Platforms, Inc. will post 20.16 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. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

A number of research firms recently issued reports on META. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. JPMorgan Chase & Co. decreased their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Loop Capital decreased their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Wolfe Research decreased their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.