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

Huntington National Bank raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 297,700 shares of the social networking company’s stock after acquiring an additional 17,965 shares during the quarter. Meta Platforms makes up 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in META. China Universal Asset Management Co. Ltd. increased its stake in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock valued at $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Meta Platforms by 22.4% during the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock valued at $32,629,000 after buying an additional 12,301 shares during the last quarter. Cypress Asset Management Inc. TX increased its position in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Meta Platforms by 3.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 11,273 shares of the social networking company’s stock worth $5,474,000 after acquiring an additional 337 shares during the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of several analyst reports. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Trading Down 4.0 %

NASDAQ:META opened at $554.08 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The business has a fifty day moving average price of $568.11 and a 200-day moving average price of $520.60. The firm has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

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

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,200 shares of company stock worth $84,533,106. 13.71% of the stock is owned by corporate insiders.

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.