Zions Bancorporation N.A. Purchases 3,575 Shares of Meta Platforms, Inc. (NASDAQ:META)

Zions Bancorporation N.A. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,347 shares of the social networking company's stock after purchasing an additional 3,575 shares during the period. Meta Platforms accounts for approximately 1.2% of Zions Bancorporation N.A.'s holdings, making the stock its 11th largest holding. Zions Bancorporation N.A.'s holdings in Meta Platforms were worth $16,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of META. International Assets Investment Management LLC raised its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Capital Research Global Investors grew its position in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Sustainable Growth Advisers LP acquired a new stake in Meta Platforms during the second quarter worth approximately $595,152,000. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company's stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Meta Platforms by 30.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company's stock valued at $1,656,318,000 after buying an additional 788,131 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the transaction, the chief operating officer now directly owns 14,424 shares in the company, valued at approximately $7,744,534.08. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the transaction, the chief executive officer now directly owns 28,838 shares of the company's stock, valued at approximately $15,377,575.12. This trade represents a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,498 shares of company stock worth $75,732,154 over the last ninety days. Corporate insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $1.64 on Monday, hitting $555.72. The company's stock had a trading volume of 10,358,277 shares, compared to its average volume of 15,043,996. The company has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The firm has a fifty day moving average price of $568.11 and a 200-day moving average price of $521.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analysts' expectations of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms's dividend payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on META shares. Stifel Nicolaus upped their target price 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. TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Pivotal Research lifted their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Tigress Financial raised 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 note on Friday, August 16th. Finally, Hsbc Global Res upgraded shares of Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.10.

Meta Platforms Company 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.