Peoples Bank OH Has $1.92 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Peoples Bank OH trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,331 shares of the social networking company’s stock after selling 112 shares during the quarter. Meta Platforms comprises about 1.3% of Peoples Bank OH’s holdings, making the stock its 21st biggest position. Peoples Bank OH’s holdings in Meta Platforms were worth $1,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Suvretta Capital Management LLC raised its holdings in shares of Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its holdings in shares of Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock worth $1,001,044,000 after acquiring an additional 1,229,350 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Meta Platforms by 25.1% during the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company’s stock valued at $215,760,000 after buying an additional 73,907 shares in the last quarter. Finally, Arcadia Wealth Management Inc. bought a new position in Meta Platforms during the fourth quarter valued at about $600,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the transaction, the chief operating officer owned 7,336 shares of the company’s stock, valued at $5,263,653.36. This trade represents a 6.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 152,263 shares of company stock valued at $104,638,750. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.5%

NASDAQ META opened at $720.92 on Tuesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $677.20 and its two-hundred day moving average is $635.41. The company has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.71 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on META shares. Citigroup raised their target price on Meta Platforms from $690.00 to $803.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Benchmark cut their target price on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $729.38.

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.