Cullen Frost Bankers Inc. Has $56.13 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Cullen Frost Bankers Inc. lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 158,573 shares of the social networking company’s stock after selling 3,326 shares during the period. Meta Platforms makes up about 0.9% of Cullen Frost Bankers Inc.’s holdings, making the stock its 27th largest position. Cullen Frost Bankers Inc.’s holdings in Meta Platforms were worth $56,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Daiwa Securities Group Inc. lifted its holdings in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares in the last quarter. Bank of Stockton boosted its holdings in Meta Platforms by 9.2% during the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after acquiring an additional 400 shares during the last quarter. Signify Wealth bought a new stake in shares of Meta Platforms in the 4th quarter worth $228,000. Illinois Municipal Retirement Fund raised its holdings in shares of Meta Platforms by 1.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock valued at $79,212,000 after purchasing an additional 4,025 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its position in shares of Meta Platforms by 1.5% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $2.56 during trading on Tuesday, reaching $468.24. The company had a trading volume of 13,382,768 shares, compared to its average volume of 18,298,424. The company has a fifty day moving average of $490.40 and a two-hundred day moving average of $410.65. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.19 trillion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $230.27 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

META has been the subject of several analyst reports. Bank of America increased their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Citigroup cut their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. KeyCorp decreased their target price on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. UBS Group cut their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Insider Activity

In other news, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total value of $16,156,396.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Javier Olivan sold 7,556 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,576,103.68. Following the transaction, the chief operating officer now owns 77,569 shares in the company, valued at $36,711,856.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total transaction of $16,156,396.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,416 shares of company stock worth $597,392,856. 13.71% of the stock is currently owned by insiders.

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.