Gyroscope Capital Management Group LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,015 shares of the social networking company’s stock after purchasing an additional 966 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Meta Platforms were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in META. Barnett & Company Inc. boosted its holdings in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after acquiring an additional 42 shares during the last quarter. Rise Advisors LLC bought a new stake in Meta Platforms in the fourth quarter valued at approximately $28,000. Evolution Advisers Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $48,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $31,000. Finally, Advocacy Wealth Management Services LLC raised its stake in Meta Platforms by 65.9% in the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock valued at $34,000 after buying an additional 60 shares during the period. Institutional investors own 65.49% of the company’s stock.
In related news, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $233.92, for a total value of $111,345.92. Following the completion of the transaction, the insider now owns 14,402 shares in the company, valued at approximately $3,368,915.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David M. Wehner sold 1,222 shares of the business’s 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 $242,713.64. Following the sale, the chief financial officer now owns 12,247 shares of the company’s stock, valued at $2,432,499.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,906 shares of company stock valued at $9,188,306. 13.59% of the stock is owned by company insiders.
Shares of META stock opened at $160.03 on Friday. The stock has a market cap of $433.09 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40. The business has a 50-day simple moving average of $185.28 and a 200-day simple moving average of $231.44. Meta Platforms, Inc. has a 52-week low of $154.25 and a 52-week high of $384.33.
Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.18. The business had revenue of $27.91 billion during the quarter, compared to analysts’ expectations 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 firm posted $3.30 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 11.46 EPS for the current year.
META has been the topic of a number of research reports. Piper Sandler lowered their target price on Meta Platforms from $230.00 to $220.00 and set a “neutral” rating on the stock in a research report on Thursday, June 2nd. Susquehanna reduced their price objective on Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Moffett Nathanson reduced their price objective on Meta Platforms to $280.00 in a research note on Thursday, May 26th. The Goldman Sachs Group cut their price target on Meta Platforms from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, June 9th. Finally, Jefferies Financial Group dropped their price objective on Meta Platforms from $330.00 to $310.00 in a report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.59.
Meta Platforms 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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