American National Bank of Texas Purchases New Stake in Meta Platforms, Inc. $META

American National Bank of Texas acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 891 shares of the social networking company’s stock, valued at approximately $654,000.

Several other hedge funds and other institutional investors also recently modified their holdings of META. Bare Financial Services Inc acquired a new stake in shares of Meta Platforms during the second quarter worth $30,000. Evergreen Private Wealth LLC increased its holdings in shares of Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after acquiring an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new position in Meta Platforms during the 2nd quarter valued at about $42,000. Knuff & Co LLC bought a new position in Meta Platforms in the 2nd quarter worth about $44,000. Finally, WFA Asset Management Corp grew its position in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the sale, the director directly owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the completion of the transaction, the chief financial officer owned 88,370 shares in the company, valued at $53,857,980.20. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 40,458 shares of company stock worth $25,436,200. Insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $657.15 on Wednesday. The stock has a market cap of $1.66 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $663.44 and a 200-day simple moving average of $707.81. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The company had revenue of $51.24 billion during the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the business posted $6.03 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Analyst Ratings Changes

Several brokerages have recently issued reports on META. Wells Fargo & Company reduced their price objective on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Piper Sandler reduced their price target on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Rosenblatt Securities reissued a “buy” rating and issued a $1,117.00 price target on shares of Meta Platforms in a research note on Friday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada decreased their target price on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $819.46.

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.