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

CNB Bank boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,243 shares of the social networking company’s stock after acquiring an additional 52 shares during the quarter. Meta Platforms accounts for approximately 1.7% of CNB Bank’s portfolio, making the stock its 10th largest position. CNB Bank’s holdings in Meta Platforms were worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Fiera Capital Corp grew its holdings in shares of 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 purchasing an additional 7,089 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Meta Platforms by 0.8% during the second quarter. E Fund Management Co. Ltd. now owns 27,122 shares of the social networking company’s stock worth $13,675,000 after purchasing an additional 207 shares in the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Meta Platforms during the second quarter worth about $5,446,000. RPg Family Wealth Advisory LLC grew its holdings in shares of Meta Platforms by 1.2% during the second quarter. RPg Family Wealth Advisory LLC now owns 16,519 shares of the social networking company’s stock worth $8,329,000 after purchasing an additional 199 shares in the last quarter. Finally, Meridian Wealth Partners LLC grew its holdings in shares of Meta Platforms by 6.7% during the second quarter. Meridian Wealth Partners LLC now owns 2,882 shares of the social networking company’s stock worth $1,453,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $612.77 on Friday. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The business’s fifty day moving average is $596.78 and its 200 day moving average is $556.71. Meta Platforms, Inc. has a twelve month low of $370.95 and a twelve month high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $604.69, for a total transaction of $21,721,069.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total value of $547,108.70. Following the sale, the insider now directly owns 31,105 shares in the company, valued at $18,804,216.70. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 496,174 shares of company stock valued at $301,408,499. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on META shares. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wolfe Research upped their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. KeyCorp upped their target price on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Profile

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.