American National Bank Takes Position in Meta Platforms, Inc. (NASDAQ:META)

American National Bank purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,640 shares of the social networking company’s stock, valued at approximately $197,000.

Other hedge funds also recently bought and sold shares of the company. Laraway Financial Advisors Inc grew its holdings in shares of Meta Platforms by 2.9% during the 1st quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company’s stock worth $776,000 after purchasing an additional 100 shares during the period. Red Wave Investments LLC grew its stake in Meta Platforms by 6.4% during the first quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company’s stock worth $416,000 after buying an additional 113 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Meta Platforms by 1.2% in the second quarter. Rehmann Capital Advisory Group now owns 12,884 shares of the social networking company’s stock worth $2,078,000 after acquiring an additional 157 shares in the last quarter. Dimension Capital Management LLC raised its stake in shares of Meta Platforms by 4.9% in the 2nd quarter. Dimension Capital Management LLC now owns 3,677 shares of the social networking company’s stock valued at $593,000 after acquiring an additional 172 shares during the period. Finally, Partners Group Holding AG lifted its holdings in shares of Meta Platforms by 8.8% during the 2nd quarter. Partners Group Holding AG now owns 3,334 shares of the social networking company’s stock valued at $538,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 60.92% of the company’s stock.

Meta Platforms Stock Down 4.5 %

Meta Platforms stock opened at $195.61 on Friday. The company has a 50-day simple moving average of $166.42 and a 200-day simple moving average of $140.33. The firm has a market capitalization of $507.15 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.20 and a current ratio of 2.20. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $236.86.

Meta Platforms (NASDAQ:META – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.12 by $0.88. The business had revenue of $32.17 billion during the quarter, compared to analyst estimates of $31.69 billion. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 9.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler raised Meta Platforms from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $136.00 to $215.00 in a research report on Thursday, February 2nd. MKM Partners boosted their price target on Meta Platforms from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, March 8th. New Street Research began coverage on shares of Meta Platforms in a research note on Wednesday, January 4th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Meta Platforms from $250.00 to $280.00 in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $209.27.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 393 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $187.25, for a total transaction of $73,589.25. Following the transaction, the insider now owns 30,939 shares of the company’s stock, valued at approximately $5,793,327.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jennifer Newstead sold 393 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $187.25, for a total value of $73,589.25. Following the completion of the transaction, the insider now directly owns 30,939 shares in the company, valued at $5,793,327.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marne L. Levine sold 23,317 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $191.00, for a total transaction of $4,453,547.00. Following the completion of the transaction, the insider now owns 4,136 shares of the company’s stock, valued at $789,976. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,342 shares of company stock worth $12,285,012. Insiders own 14.03% of the company’s stock.

About Meta Platforms

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.