OLD National Bancorp IN Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

OLD National Bancorp IN reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,523 shares of the social networking company's stock after selling 1,673 shares during the period. Meta Platforms comprises about 1.0% of OLD National Bancorp IN's investment portfolio, making the stock its 16th largest holding. OLD National Bancorp IN's holdings in Meta Platforms were worth $41,292,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JDM Financial Group LLC bought a new position in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the 4th quarter worth about $41,000. West Financial Advisors LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at about $49,000. Finally, Cordant Inc. bought a new position in Meta Platforms during the fourth quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 12,975 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $696.39, for a total transaction of $9,035,660.25. Following the transaction, the chief executive officer now owns 210,971 shares in the company, valued at approximately $146,918,094.69. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Clegg sold 7,296 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company's stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 673,878 shares of company stock valued at $416,269,904 over the last 90 days. Company insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 0.1 %

NASDAQ META traded down $0.47 on Wednesday, reaching $703.73. The company had a trading volume of 8,240,053 shares, compared to its average volume of 15,684,800. The firm has a market cap of $1.78 trillion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 1.47 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $718.14. The business has a 50 day moving average of $618.86 and a two-hundred day moving average of $570.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the company posted $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. Meta Platforms's payout ratio is 8.36%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Hsbc Global Res upgraded Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. Mizuho upped their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $710.83.

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.