OLD National Bancorp IN Boosts Stock Holdings in Meta Platforms, Inc. $META

OLD National Bancorp IN grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,719 shares of the social networking company’s stock after buying an additional 1,991 shares during the quarter. Meta Platforms accounts for approximately 0.7% of OLD National Bancorp IN’s portfolio, making the stock its 14th largest holding. OLD National Bancorp IN’s holdings in Meta Platforms were worth $43,893,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Meyer Handelman Co. lifted its stake in shares of Meta Platforms by 4.0% in the 1st quarter. Meyer Handelman Co. now owns 68,107 shares of the social networking company’s stock valued at $38,966,000 after acquiring an additional 2,625 shares during the last quarter. Haven Capital Group Inc. increased its stake in Meta Platforms by 1.1% in the 1st quarter. Haven Capital Group Inc. now owns 2,538 shares of the social networking company’s stock worth $1,452,000 after purchasing an additional 28 shares during the period. Louisiana State Employees Retirement System bought a new stake in Meta Platforms in the first quarter valued at approximately $103,956,000. Aegis Wealth Management Inc. bought a new stake in Meta Platforms in the first quarter valued at approximately $204,000. Finally, Dagco Inc. boosted its position in Meta Platforms by 5.8% during the 1st quarter. Dagco Inc. now owns 1,326 shares of the social networking company’s stock valued at $759,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is being highlighted as a market outperformer, with coverage noting it has exceeded broader market returns, reinforcing the view that investors still see strong fundamentals behind the stock. Article Title
• Positive Sentiment: Meta and EssilorLuxottica launched a cheaper new line of AI smart glasses starting at $299, which could expand adoption of its wearables strategy and support long-term growth. Article Title
• Positive Sentiment: Meta’s analyst consensus remains “Moderate Buy,” suggesting Wall Street still sees upside potential despite recent volatility. Article Title
• Positive Sentiment: Multiple pieces point to Meta being a preferred growth stock for long-term investors, including commentary citing billionaire Dan Loeb’s bullish stance. Article Title
• Neutral Sentiment: Coverage comparing Meta with Snap underscores Meta’s much larger revenue base and more consistent growth, but this is more of a fundamentals refresher than a new catalyst. Article Title
• Negative Sentiment: Reports that Google is limiting Meta’s use of Gemini AI models raise a potential constraint on Meta’s access to outside AI compute capacity, which could be a modest headwind for its AI development plans. Article Title

Meta Platforms Stock Performance

Shares of META stock opened at $562.60 on Tuesday. The company’s fifty day moving average price is $609.99 and its 200-day moving average price is $629.84. The stock has a market cap of $1.42 trillion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. During the same period last year, the business earned $6.43 EPS. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 29.35 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 15th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is currently 7.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. KeyCorp restated an “overweight” rating and issued a $760.00 price objective on shares of Meta Platforms in a research report on Thursday, April 30th. Wolfe Research reduced their price target on Meta Platforms from $850.00 to $800.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Erste Group Bank lowered Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $1,015.00 price objective on shares of Meta Platforms in a report on Thursday, May 28th. Finally, Sanford C. Bernstein cut their price objective on Meta Platforms from $900.00 to $850.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $840.60.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Curtis J. Mahoney sold 2,079 shares of Meta Platforms stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider owned 1,118 shares in the company, valued at approximately $681,890.56. The trade was a 65.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 2,778 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $629.45, for a total value of $1,748,612.10. Following the completion of the sale, the chief operating officer directly owned 10,557 shares in the company, valued at $6,645,103.65. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,013 shares of company stock valued at $24,115,999 over the last ninety days. Company insiders own 13.53% of the company’s stock.

Meta Platforms Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.