Harbor Investments Inc. reduced its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 60.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,276 shares of the social networking company stock after selling 9,400 shares during the period. Harbor Investments Inc.’s holdings in Meta Platforms were worth $ 2,111,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Widmann Financial Services Inc. purchased a new position in Meta Platforms in the fourth quarter valued at approximately $ 100,000. Steigerwald Gordon & Koch Inc. increased its stake in Meta Platforms by 4.1% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company stock valued at $ 677,000 after purchasing an additional 80 shares during the last quarter. Colony Group LLC grew its position in shares of Meta Platforms by 13.7% during the third quarter. Colony Group LLC now owns 27,256 shares of the social networking company stock worth $ 9,250,000 after acquiring an additional 3,287 shares during the last quarter. Wealth Management Partners LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth approximately $ 243,000. Finally, Northside Capital Management LLC grew its position in shares of Meta Platforms by 3.8% during the fourth quarter. Northside Capital Management LLC now owns 303,824 shares of the social networking company stock worth $ 102,191,000 after acquiring an additional 11,121 shares during the last quarter. Institutional investors own 65.49% of the company stock.
A number of equities analysts have recently issued reports on META shares. Evercore ISI lowered their target price on shares of Meta Platforms from $ 350.00 to $ 325.00 in a research report on Thursday, April 28th. Morgan Stanley lowered their target price on shares of Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. Truist Financial lowered their target price on shares of Meta Platforms from $ 350.00 to $ 320.00 in a research report on Thursday, April 28th. Susquehanna lowered their target price on shares of Meta Platforms from $ 375.00 to $ 290.00 in a research report on Thursday, April 28th. Finally, BMO Capital Markets decreased their price target on Meta Platforms from $ 290.00 to $ 225.00 in a report on Friday, April 22nd. One research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $ 307.76.
In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of Meta Platforms stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $ 180.53, for a total value of $ 61,741.26. Following the completion of the sale, the insider now owns 20,141 shares in the company, valued at approximately $ 3,636,054.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Susan JS Taylor sold 1,420 shares of Meta Platforms stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $ 202.16, for a total value of $ 287,067.20. Following the completion of the sale, the chief accounting officer now owns 1,605 shares of the company stock, valued at approximately $ 324,466.80. The disclosure for this sale can be found here. Insiders sold a total of 45,782 shares of company stock valued at $ 9,221,039 in the last 90 days. 13.59% of the stock is owned by company insiders.
Meta Platforms stock opened at $ 163.73 on Wednesday. The stock has a market cap of $ 10.94 billion, a PE ratio of 12.39, a P / E / G ratio of 1.12 and a beta of 1.37. The stock has a 50-day moving average price of $ 197.69 and a 200 day moving average price of $ 245.46. Meta Platforms, Inc. has a 52 week low of $ 161.36 and a 52 week high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The social networking company reported $ 2.72 EPS for the quarter, topping analysts’ consensus estimates of $ 2.54 by $ 0.18. The firm 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 last year, the business posted $ 3.30 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 11.56 EPS for the current fiscal year.
About Meta Platforms: (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.
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