CNB Bank Has $3.66 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

CNB Bank increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,243 shares of the social networking company’s stock after purchasing an additional 52 shares during the quarter. Meta Platforms accounts for approximately 1.7% of CNB Bank’s investment portfolio, making the stock its 10th largest position. CNB Bank’s holdings in Meta Platforms were worth $3,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fiera Capital Corp raised its stake in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in shares of Meta Platforms by 0.8% in the second quarter. E Fund Management Co. Ltd. now owns 27,122 shares of the social networking company’s stock valued at $13,675,000 after buying an additional 207 shares during the period. Andar Capital Management HK Ltd acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $5,446,000. RPg Family Wealth Advisory LLC increased its stake in shares of Meta Platforms by 1.2% in the second quarter. RPg Family Wealth Advisory LLC now owns 16,519 shares of the social networking company’s stock valued at $8,329,000 after buying an additional 199 shares during the period. Finally, Meridian Wealth Partners LLC increased its stake in shares of Meta Platforms by 6.7% in the second quarter. Meridian Wealth Partners LLC now owns 2,882 shares of the social networking company’s stock valued at $1,453,000 after buying an additional 182 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. This trade represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 496,174 shares of company stock valued at $301,408,499. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Up 0.2 %

Shares of Meta Platforms stock opened at $612.77 on Friday. Meta Platforms, Inc. has a 1 year low of $370.95 and a 1 year high of $638.40. The firm has a market cap of $1.55 trillion, a PE ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. The stock has a fifty day moving average price of $596.78 and a 200-day moving average price of $556.71. 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 announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Sanford C. Bernstein upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $650.05.

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.