STAR Financial Bank Sells 135 Shares of Meta Platforms, Inc. (NASDAQ:META)

STAR Financial Bank decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the second quarter, HoldingsChannel reports. The fund owned 1,286 shares of the social networking company’s stock after selling 135 shares during the quarter. STAR Financial Bank’s holdings in Meta Platforms were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Greenwood Gearhart Inc. grew its holdings in shares of Meta Platforms by 0.8% in the second quarter. Greenwood Gearhart Inc. now owns 25,600 shares of the social networking company’s stock worth $12,908,000 after purchasing an additional 207 shares during the last quarter. Biltmore Family Office LLC grew its holdings in shares of Meta Platforms by 1.8% in the second quarter. Biltmore Family Office LLC now owns 2,945 shares of the social networking company’s stock worth $1,485,000 after purchasing an additional 52 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Meta Platforms by 20.7% in the second quarter. AGF Management Ltd. now owns 9,503 shares of the social networking company’s stock worth $4,792,000 after purchasing an additional 1,627 shares during the last quarter. South Street Advisors LLC grew its holdings in shares of Meta Platforms by 74.5% in the second quarter. South Street Advisors LLC now owns 28,967 shares of the social networking company’s stock worth $14,606,000 after purchasing an additional 12,370 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Meta Platforms by 15.5% in the second quarter. Angeles Wealth Management LLC now owns 8,195 shares of the social networking company’s stock worth $4,132,000 after purchasing an additional 1,098 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 357,574 shares of company stock valued at $185,587,773. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $524.62 on Friday. The company’s fifty day moving average price is $505.13 and its 200 day moving average price is $495.43. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The stock has a market capitalization of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

META has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. KeyCorp increased their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $577.26.

About Meta Platforms

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.