Equitable Trust Co. Has $5.30 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Equitable Trust Co. grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,504 shares of the social networking company’s stock after purchasing an additional 1,275 shares during the period. Equitable Trust Co.’s holdings in Meta Platforms were worth $5,296,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares in the last quarter. Northern Capital Management Inc. boosted its position in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. grew its stake in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares in the last quarter. Finally, LongView Wealth Management increased its position in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the sale, the chief executive officer now owns 301,478 shares in the company, valued at approximately $151,697,700.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 390,072 shares of company stock valued at $201,913,948 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $512.74 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.30 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a 50 day moving average of $505.31 and a 200-day moving average of $493.77. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on META. Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. TD Securities raised their target price on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Evercore ISI lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. UBS Group upped their price objective on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities lifted their target price on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

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.