Trustmark National Bank Trust Department Buys 570 Shares of Meta Platforms, Inc. (NASDAQ:META)

Trustmark National Bank Trust Department raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,188 shares of the social networking company’s stock after acquiring an additional 570 shares during the period. Meta Platforms comprises approximately 1.0% of Trustmark National Bank Trust Department’s investment portfolio, making the stock its 24th largest holding. Trustmark National Bank Trust Department’s holdings in Meta Platforms were worth $12,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in META. Jennison Associates LLC lifted its holdings in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares during the period. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the 3rd 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. Dimensional Fund Advisors LP increased its position in shares of Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares during the last quarter. Swiss National Bank raised its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock worth $3,723,493,000 after purchasing an additional 17,100 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of Meta Platforms by 5.8% in the 3rd quarter. Baillie Gifford & Co. now owns 6,150,374 shares of the social networking company’s stock worth $3,520,720,000 after buying an additional 338,263 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $559.14 on Friday. The firm has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. The firm’s fifty day moving average is $572.74 and its 200 day moving average is $524.35. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. 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 (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, 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 sale, the insider now owns 37,817 shares of the company’s stock, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,843 shares of company stock worth $92,083,554. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Bank of America raised their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Raymond James increased their price target on Meta Platforms from $600.00 to $650.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.