CENTRAL TRUST Co Increases Stake in Meta Platforms, Inc. (NASDAQ:FB)

CENTRAL TRUST Co lifted its holdings in Meta Platforms, Inc. (NASDAQ:FBGet Rating) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 60,692 shares of the social networking company’s stock after purchasing an additional 1,952 shares during the quarter. CENTRAL TRUST Co’s holdings in Meta Platforms were worth $20,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Motco boosted its stake in Meta Platforms by 0.4% during the fourth quarter. Motco now owns 27,099 shares of the social networking company’s stock worth $9,115,000 after buying an additional 104 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Meta Platforms by 1.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,431 shares of the social networking company’s stock worth $200,273,000 after buying an additional 6,004 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Meta Platforms by 34.4% during the fourth quarter. Capital Advisors Ltd. LLC now owns 2,822 shares of the social networking company’s stock worth $949,000 after buying an additional 722 shares during the period. Legal Advantage Investments Inc. purchased a new position in Meta Platforms during the fourth quarter worth $404,000. Finally, McIlrath & Eck LLC boosted its stake in Meta Platforms by 2.7% during the fourth quarter. McIlrath & Eck LLC now owns 1,930 shares of the social networking company’s stock worth $649,000 after buying an additional 51 shares during the period. Institutional investors own 65.64% of the company’s stock.

Shares of FB traded down $5.26 during midday trading on Friday, reaching $200.47. The company had a trading volume of 49,193,434 shares, compared to its average volume of 27,320,458. Meta Platforms, Inc. has a 1-year low of $169.00 and a 1-year high of $384.33. The stock has a market cap of $545.67 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.07 and a beta of 1.39. The firm has a 50 day simple moving average of $207.76 and a 200-day simple moving average of $277.44.

Meta Platforms (NASDAQ:FBGet Rating) last issued its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a return on equity of 28.25% and a net margin of 31.20%. During the same period in the prior year, the firm posted $3.30 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 12.04 EPS for the current year.

A number of brokerages have recently issued reports on FB. BMO Capital Markets lowered their target price on shares of Meta Platforms from $290.00 to $225.00 in a research note on Friday, April 22nd. Bank of America lowered their target price on shares of Meta Platforms from $410.00 to $333.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd. lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th. Cowen lowered their target price on shares of Meta Platforms from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, February 3rd. Finally, Sanford C. Bernstein lowered their price objective on shares of Meta Platforms from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, February 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $316.80.

In related news, CAO Susan J.S. Taylor sold 2,272 shares of the firm’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $314.46, for a total value of $39,307.50. The disclosure for this sale can be found here. Insiders sold a total of 8,081 shares of company stock valued at $1,731,333 over the last ninety days. Corporate insiders own 13.59% of the company’s stock.

Meta Platforms Profile (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:FB)

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