OLD National Bancorp IN Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

OLD National Bancorp IN decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,370 shares of the social networking company’s stock after selling 2,496 shares during the period. Meta Platforms comprises approximately 0.9% of OLD National Bancorp IN’s holdings, making the stock its 18th largest holding. OLD National Bancorp IN’s holdings in Meta Platforms were worth $39,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. S.A. Mason LLC boosted its position in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN boosted its position in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. boosted its position in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares in the last quarter. LongView Wealth Management boosted its position in Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its stake in Meta Platforms by 5.3% in the first quarter. Hanson & Doremus Investment Management now owns 435 shares of the social networking company’s stock valued at $211,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 319,158 shares of company stock valued at $158,629,849. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META traded up $8.14 during trading on Friday, hitting $517.77. The company’s stock had a trading volume of 13,684,313 shares, compared to its average volume of 16,487,600. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The business’s fifty day simple moving average is $496.49 and its 200 day simple moving average is $482.54. The firm has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

A number of research firms have commented on META. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Citigroup increased their price target on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein increased their price target on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Roth Mkm increased their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler increased their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $572.51.

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.