First National Trust Co Sells 4,147 Shares of Meta Platforms, Inc. (NASDAQ:META)

First National Trust Co reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,984 shares of the social networking company’s stock after selling 4,147 shares during the quarter. Meta Platforms accounts for 0.9% of First National Trust Co’s portfolio, making the stock its 25th biggest holding. First National Trust Co’s holdings in Meta Platforms were worth $19,816,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC increased its position in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring an additional 5,001,647 shares during the last quarter. Morgan Stanley lifted its holdings in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares during the period. Northern Trust Corp lifted its holdings in Meta Platforms by 4.3% in the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after acquiring an additional 946,871 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock worth $3,945,799,000 after purchasing an additional 111,735 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares in the company, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. In the last three months, insiders sold 1,257,876 shares of company stock valued at $613,168,252. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada dropped their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company decreased their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Canaccord Genuity Group cut their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Rosenblatt Securities raised their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Trading Up 2.3 %

NASDAQ:META traded up $10.28 during midday trading on Friday, hitting $451.96. 16,489,057 shares of the company traded hands, compared to its average volume of 20,698,000. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a P/E/G ratio of 1.18 and a beta of 1.21. The firm’s fifty day moving average is $490.72 and its 200-day moving average is $408.34. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 firm had revenue of $36.46 billion during 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%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.