First National Bank of Mount Dora Trust Investment Services Has $5.82 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,936 shares of the social networking company’s stock after buying an additional 264 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Meta Platforms were worth $5,818,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the third quarter valued at about $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter valued at about $41,000. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the third quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms during the third quarter valued at about $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on META. Morgan Stanley raised their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wolfe Research raised their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Scotiabank dropped their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Piper Sandler raised their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Guggenheim lifted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $612.77 on Friday. The company’s fifty day moving average price is $596.78 and its 200-day moving average price is $556.71. The firm has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a one year low of $370.95 and a one year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Activity

In related news, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the transaction, the chief operating officer now owns 10,707 shares of the company’s stock, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 496,174 shares of company stock valued at $301,408,499. Corporate insiders own 13.71% of the company’s stock.

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.