CENTRAL TRUST Co Buys 592 Shares of Meta Platforms, Inc. (NASDAQ:META)

CENTRAL TRUST Co grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.9% during the first quarter, Holdings Channel.com reports. The fund owned 32,010 shares of the social networking company’s stock after purchasing an additional 592 shares during the quarter. CENTRAL TRUST Co’s holdings in Meta Platforms were worth $15,543,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in META. Cypress Capital Group lifted its holdings in Meta Platforms by 9.5% during the third quarter. Cypress Capital Group now owns 1,359 shares of the social networking company’s stock worth $408,000 after acquiring an additional 118 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Meta Platforms by 101.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 6,005 shares of the social networking company’s stock worth $1,803,000 after purchasing an additional 3,030 shares during the period. MRP Capital Investments LLC boosted its holdings in shares of Meta Platforms by 118.7% in the 3rd quarter. MRP Capital Investments LLC now owns 11,995 shares of the social networking company’s stock worth $3,601,000 after buying an additional 6,510 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Meta Platforms by 15.7% during the third quarter. Coldstream Capital Management Inc. now owns 34,461 shares of the social networking company’s stock valued at $10,346,000 after buying an additional 4,665 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Meta Platforms by 5.6% during the third quarter. Venturi Wealth Management LLC now owns 17,252 shares of the social networking company’s stock worth $5,179,000 after buying an additional 916 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded down $4.21 on Tuesday, reaching $464.63. 11,732,473 shares of the company’s stock traded hands, compared to its average volume of 17,666,227. The stock has a market cap of $1.18 trillion, a PE ratio of 26.69, a P/E/G ratio of 1.22 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. Meta Platforms, Inc. has a 12 month low of $244.95 and a 12 month high of $531.49. The stock has a 50-day simple moving average of $485.26 and a 200 day simple moving average of $423.55.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, research analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. Loop Capital reduced their target price on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Bank of America upped their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wedbush decreased their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Wolfe Research dropped their price objective on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Get Our Latest Report on Meta Platforms

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $480.00, for a total value of $280,800.00. Following the completion of the sale, the insider now owns 41,908 shares in the company, valued at $20,115,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $480.00, for a total value of $280,800.00. Following the transaction, the insider now owns 41,908 shares in the company, valued at $20,115,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,014,637 shares of company stock worth $499,004,990. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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