Legacy Capital Partners Inc. lowered its stake in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 33.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,835 shares of the social networking company stock after selling 1,430 shares during the quarter. Legacy Capital Partners Inc.’s holdings in Meta Platforms were worth $ 630,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of META. Norges Bank purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $ 9,595,113,000. Dodge & Cox raised its position in shares of Meta Platforms by 78.7% during the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company stock valued at $ 2,238,518,000 after buying an additional 2,931,894 shares in the last quarter. Capital International Investors raised its position in shares of Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company stock valued at $ 17,413,576,000 after buying an additional 2,888,336 shares in the last quarter. HS Management Partners LLC raised its position in Meta Platforms by 463.7% in the 4th 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 period. Finally, TD Asset Management Inc. raised its position in Meta Platforms by 52.7% in the 4th 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 period. Hedge funds and other institutional investors own 65.49% of the company stock.
Shares of Meta Platforms stock opened at $ 163.74 on Tuesday. The stock has a market capitalization of $ 443.13 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. Meta Platforms, Inc. has a 52-week low of $ 159.61 and a 52-week high of $ 384.33. The company has a 50-day simple moving average of $ 193.14 and a two-hundred day simple moving average of $ 241.09.
Meta Platforms (NASDAQ: META – Get Rating) last issued its earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share (EPS) for the quarter, topping 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 net margin of 31.20% and a return on equity of 28.74%. During the same period in the previous year, the company earned $ 3.30 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.
In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $ 165.89, for a total transaction of $ 56,734.38. Following the completion of the transaction, the insider now directly owns 19,115 shares of the company stock, valued at $ 3,170,987.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 of the company stock, valued at $ 2,432,499.14. The disclosure for this sale can be found here. Insiders sold 45,698 shares of company stock valued at $ 9,181,081 over the last ninety days. Corporate insiders own 13.59% of the company stock.
A number of brokerages recently commented on META. TheStreet cut shares of Meta Platforms from a “b-” rating to a “c” rating in a research report on Friday, March 4th. cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. BMO Capital Markets decreased their target price on shares of Meta Platforms from $ 290.00 to $ 225.00 in a research report on Friday, April 22nd. Benchmark began coverage on shares of Meta Platforms in a research report on Tuesday, March 1st. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Meta Platforms in a research report on Friday, March 11th. They issued a “buy” rating and a $ 265.00 target price on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Buy” and a consensus target price of $ 305.87.
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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