Country Club Bank Sells 181 Shares of Meta Platforms, Inc. (NASDAQ:META)

Country Club Bank lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,264 shares of the social networking company’s stock after selling 181 shares during the period. Country Club Bank’s holdings in Meta Platforms were worth $4,294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners raised its position in Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after purchasing an additional 27 shares during the period. Axiom Advisory LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $210,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Meta Platforms by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,185,193 shares of the social networking company’s stock valued at $2,189,311,000 after acquiring an additional 114,712 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Meta Platforms by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 22,388 shares of the social networking company’s stock valued at $7,995,000 after acquiring an additional 2,030 shares during the period. Finally, Root Financial Partners LLC grew its position in Meta Platforms by 6.5% during the 4th quarter. Root Financial Partners LLC now owns 2,112 shares of the social networking company’s stock worth $748,000 after acquiring an additional 129 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Raymond James increased their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Bank of America boosted their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $572.51.

Meta Platforms Trading Up 2.0 %

NASDAQ:META traded up $10.57 during mid-day trading on Thursday, hitting $537.33. 13,439,826 shares of the stock traded hands, compared to its average volume of 16,356,326. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The stock has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.27 and a beta of 1.21. The firm’s 50 day moving average is $498.92 and its two-hundred day moving average is $485.97.

Meta Platforms (NASDAQ:META) last released its earnings results 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. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $3.23 earnings per share. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the sale, the chief executive officer now owns 72,473 shares in the company, valued at approximately $38,302,705.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the transaction, the insider now directly owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,174 shares of company stock valued at $175,146,777. 13.71% of the stock is currently owned by insiders.

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.