First National Trust Co Sells 4,147 Shares of Meta Platforms, Inc. (NASDAQ:META)

First National Trust Co trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,984 shares of the social networking company’s stock after selling 4,147 shares during the period. Meta Platforms comprises approximately 0.9% of First National Trust Co’s investment portfolio, making the stock its 25th biggest position. First National Trust Co’s holdings in Meta Platforms were worth $19,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stone House Investment Management LLC lifted its holdings in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the period. Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $39,000. Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp lifted its stake in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. BMO Capital Markets upped their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Truist Financial reduced their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Barclays lowered their target price on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $10.28 during midday trading on Friday, hitting $451.96. The company’s stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The stock has a fifty day moving average price of $490.72 and a 200 day moving average price of $408.34. The firm has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the sale, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,257,876 shares of company stock valued at $613,168,252. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.