First National Bank of Omaha boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,878 shares of the social networking company's stock after buying an additional 1,394 shares during the quarter. Meta Platforms accounts for approximately 1.5% of First National Bank of Omaha's portfolio, making the stock its 8th largest holding. First National Bank of Omaha's holdings in Meta Platforms were worth $23,400,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. acquired a new stake in Meta Platforms in the third quarter valued at $121,071,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Meta Platforms in the 3rd quarter worth about $1,733,000. Legacy Investment Solutions LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at about $74,000. Headinvest LLC increased its holdings in Meta Platforms by 6.2% during the 3rd quarter. Headinvest LLC now owns 1,656 shares of the social networking company's stock valued at $948,000 after acquiring an additional 97 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its position in Meta Platforms by 6.2% during the third quarter. Northeast Financial Consultants Inc now owns 1,388 shares of the social networking company's stock worth $795,000 after acquiring an additional 81 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares of the company's stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company's stock, valued at approximately $311,054,400. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 142,160 shares of company stock worth $81,611,223 in the last 90 days. 13.71% of the stock is owned by corporate insiders.
Several analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on Meta Platforms from $575.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. UBS Group lifted their target price on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Roth Mkm raised their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $634.71.
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Shares of META stock opened at $623.77 on Friday. The firm has a fifty day simple moving average of $579.64 and a 200-day simple moving average of $532.13. The company has a market capitalization of $1.57 trillion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $317.77 and a twelve month high of $629.79. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Monday, December 16th. Meta Platforms's dividend payout ratio is currently 9.42%.
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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