Indiana Trust & Investment Management CO lowered its position in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,043 shares of the social networking company stock after selling 417 shares during the period. Meta Platforms comprises about 0.8% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 27th largest position. Indiana Trust & Investment Management CO’s holdings in Meta Platforms were worth $ 1,566,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in META. Barnett & Company Inc. increased its holdings in Meta Platforms by 105.0% during the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company stock worth $ 28,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC bought a new position in Meta Platforms during the fourth quarter worth about $ 28,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms during the fourth quarter worth about $ 31,000. Evolution Advisers Inc. bought a new position in Meta Platforms during the fourth quarter worth about $ 48,000. Finally, Horan Securities Inc. bought a new position in Meta Platforms during the fourth quarter worth about $ 53,000. Institutional investors own 65.49% of the company stock.
A number of equities analysts have recently commented on the stock. JMP Securities cut their price objective on shares of Meta Platforms from $ 350.00 to $ 265.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 19th. Benchmark assumed coverage on shares of Meta Platforms in a research report on Tuesday, March 1st. They issued a “hold” rating for the company. Susquehanna cut their price objective on shares of Meta Platforms from $ 375.00 to $ 290.00 in a research report on Thursday, April 28th. Guggenheim cut their price objective on shares of Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Finally, Jefferies Financial Group cut their price objective on shares of Meta Platforms from $ 330.00 to $ 310.00 in a research report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $ 305.87.
NASDAQ: META opened at $ 163.74 on Friday. The stock has a market cap of $ 443.13 billion, a P / E ratio of 12.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The firm’s fifty day simple moving average is $ 194.19 and its 200 day simple moving average is $ 242.59. Meta Platforms, Inc. has a twelve month low of $ 159.61 and a twelve month high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share for the quarter, beating the consensus estimate of $ 2.54 by $ 0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The business had revenue of $ 27.91 billion for the quarter, compared to analysts’ expectations of $ 28.21 billion. During the same quarter in the previous year, the business posted $ 3.30 earnings per share. Analysts predict that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.
In other Meta Platforms news, CAO Susan JS Taylor sold 1,420 shares of the company stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $ 202.16, for a total value of $ 287,067.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,605 shares in the company, valued at approximately $ 324,466.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 768 shares of the stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $ 211.37, for a total value of $ 162,332.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,466 shares of company stock worth $ 9,343,413. 13.59% of the stock is currently owned by company insiders.
Meta Platforms Company 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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