Gilman Hill Asset Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 73.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,860 shares of the social networking company stock after purchasing an additional 5,006 shares during the period. Gilman Hill Asset Management LLC’s holdings in Meta Platforms were worth $ 2,637,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Norges Bank bought a new stake in Meta Platforms during the fourth quarter worth $ 9,595,113,000. Dodge & Cox lifted its stake in Meta Platforms by 78.7% during the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company stock worth $ 2,238,518,000 after purchasing an additional 2,931,894 shares during the last quarter. Capital International Investors lifted its stake in Meta Platforms by 5.9% during the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company stock worth $ 17,413,576,000 after purchasing an additional 2,888,336 shares during the last quarter. HS Management Partners LLC lifted its stake in Meta Platforms by 463.7% during the fourth quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company stock worth $ 182,104,000 after purchasing an additional 2,325,382 shares during the last quarter. Finally, TD Asset Management Inc. lifted its stake in Meta Platforms by 52.7% during the fourth quarter. TD Asset Management Inc. now owns 6,124,750 shares of the social networking company stock worth $ 2,060,059,000 after purchasing an additional 2,114,636 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company stock.
Shares of NASDAQ META opened at $ 158.75 on Friday. Meta Platforms, Inc. has a fifty-two week low of $ 154.25 and a fifty-two week high of $ 384.33. The stock has a market cap of $ 429.63 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.22 and a beta of 1.37. The firm’s 50-day simple moving average is $ 189.79 and its 200 day simple moving average is $ 238.90.
Meta Platforms (NASDAQ: META – Get Rating) last announced its quarterly 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. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The business had revenue of $ 27.91 billion for the quarter, compared to analysts’ expectations of $ 28.21 billion. During the same quarter last year, the firm earned $ 3.30 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.
In other Meta Platforms news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $ 233.92, for a total transaction of $ 111,345.92. Following the transaction, the insider now owns 14,402 shares of the company stock, valued at approximately $ 3,368,915.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David M. Wehner sold 1,222 shares of Meta Platforms stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $ 198.62, for a total transaction of $ 242,713.64. Following the transaction, the chief financial officer now directly owns 12,247 shares in the company, valued at approximately $ 2,432,499.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,040 shares of company stock worth $ 9,237,891. Insiders own 13.59% of the company stock.
Several brokerages have recently issued reports on META. Evercore ISI lowered their price target on shares of Meta Platforms from $ 350.00 to $ 325.00 in a report on Thursday, April 28th. BMO Capital Markets lowered their price target on shares of Meta Platforms from $ 290.00 to $ 225.00 in a report on Friday, April 22nd. Mizuho lowered their price target on shares of Meta Platforms from $ 425.00 to $ 325.00 and set a “buy” rating for the company in a report on Monday, April 25th. Citigroup upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and upped their price target for the stock from $ 258.00 to $ 300.00 in a report on Wednesday, April 20th. Finally, Susquehanna Bancshares lowered their price target on shares of Meta Platforms from $ 375.00 to $ 290.00 in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $ 305.87.
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 feed, stories, reels, video, 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.
See Also:
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ: META – Get Rating).
Receive News & Ratings for Meta Platforms Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meta Platforms and related companies with MarketBeat.com’s FREE daily email newsletter.
.