Huntington National Bank Has $170.42 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Huntington National Bank raised its position in Meta Platforms, Inc. (NASDAQ:META) by 6.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 297,700 shares of the social networking company’s stock after acquiring an additional 17,965 shares during the period. Meta Platforms comprises 1.2% of Huntington National Bank’s portfolio, making the stock its 18th biggest position. Huntington National Bank’s holdings in Meta Platforms were worth $170,415,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Meta Platforms in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $554.08 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The stock has a fifty day moving average of $568.11 and a 200-day moving average of $520.60.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. Evercore ISI upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Pivotal Research raised their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $526.94, for a total transaction of $8,800,951.88. Following the completion of the sale, the chief executive officer now owns 46,292 shares of the company’s stock, valued at approximately $24,393,106.48. This represents a 26.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock valued at $84,533,106 in the last three months. Insiders own 13.71% of the company’s stock.

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.