Everett Harris & Co. CA cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,024 shares of the social networking company’s stock after selling 3,579 shares during the period. Everett Harris & Co. CA’s holdings in Meta Platforms were worth $5,787,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Activest Wealth Management raised its holdings in Meta Platforms by 50.0% in the 4th quarter. Activest Wealth Management now owns 2,353 shares of the social networking company’s stock worth $791,000 after purchasing an additional 784 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in Meta Platforms by 1.6% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 2,651 shares of the social networking company’s stock worth $892,000 after purchasing an additional 41 shares in the last quarter. Pacifica Partners Inc. raised its holdings in Meta Platforms by 35.5% in the fourth quarter. Pacifica Partners Inc. now owns 3,960 shares of the social networking company’s stock worth $1,318,000 after purchasing an additional 1,038 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Meta Platforms by 438.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 248,083 shares of the social networking company’s stock valued at $83,443,000 after acquiring an additional 201,974 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Meta Platforms by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 90,024 shares of the social networking company’s stock valued at $30,280,000 after purchasing an additional 3,748 shares during the last quarter. Institutional investors own 65.49% of the company’s stock.
A number of research analysts have issued reports on the company. Jefferies Financial Group lowered their price objective on Meta Platforms from $330.00 to $310.00 in a research note on Tuesday, May 24th. Canaccord Genuity Group dropped their price target on shares of Meta Platforms from $360.00 to $330.00 in a research note on Thursday, April 28th. Rosenblatt Securities assumed coverage on shares of Meta Platforms in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $228.00 target price on the stock. StockNews.com began coverage on shares of Meta Platforms in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. One equity research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.59.
In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $220.04, for a total transaction of $104,739.04. Following the completion of the transaction, the insider now owns 13,926 shares in the company, valued at $3,064,277.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marne L. Levine sold 10,252 shares of the stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $2,036,252.24. Following the completion of the sale, the insider now owns 23,010 shares in the company, valued at $4,570,246.20. The disclosure for this sale can be found here. Insiders have sold 45,906 shares of company stock worth $9,188,306 in the last quarter. Company insiders own 13.59% of the company’s stock.
Shares of NASDAQ META opened at $160.03 on Monday. Meta Platforms, Inc. has a 1-year low of $154.25 and a 1-year high of $384.33. The business’s 50 day moving average is $185.28 and its two-hundred day moving average is $230.67. The stock has a market capitalization of $433.09 billion, a P/E ratio of 12.11, a PEG ratio of 1.27 and a beta of 1.40.
Meta Platforms (NASDAQ:META – Get Rating) last released its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.18. The firm had revenue of $27.91 billion for the quarter, compared to the consensus estimate of $28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same quarter in the previous year, the company posted $3.30 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 11.46 EPS for the current year.
Meta Platforms Company Profile: (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment’s products include Facebook, which enables people to share, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feeds, stories, reels, videos, live, and shops; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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