Intrust Bank NA Has $10.15 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Intrust Bank NA lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,335 shares of the social networking company’s stock after acquiring an additional 373 shares during the period. Meta Platforms makes up 1.0% of Intrust Bank NA’s holdings, making the stock its 21st biggest holding. Intrust Bank NA’s holdings in Meta Platforms were worth $10,150,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Seelaus Asset Management LLC grew its stake in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning lifted its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares during the last quarter. Maiden Cove Capital LLC grew its position in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Stephens Consulting LLC increased its stake in Meta Platforms by 5.3% during the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after acquiring an additional 16 shares during the last quarter. Finally, VeraBank N.A. raised its position in Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $576.74 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The stock’s 50-day moving average price is $655.23 and its 200-day moving average price is $608.48. The stock has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the company earned $5.33 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analyst Weigh In

Several research analysts have commented on META shares. Piper Sandler increased their price target on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Argus set a $775.00 price target on shares of Meta Platforms in a research note on Tuesday, February 4th. Robert W. Baird boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at approximately $10,318,548.24. The trade was a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total transaction of $535,542.80. Following the sale, the insider now owns 32,915 shares of the company’s stock, valued at approximately $19,477,780.40. The trade was a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 584,823 shares of company stock valued at $386,274,777. Corporate insiders own 13.71% of the company’s stock.

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.