Lincoln Capital Corp decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 44.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,978 shares of the social networking company stock after selling 3,916 shares during the quarter. Lincoln Capital Corp’s holdings in Meta Platforms were worth $ 1,107,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of META. Norges Bank purchased a new stake in Meta Platforms during the fourth quarter worth approximately $ 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.
Several research firms recently weighed in on META. Mizuho decreased their target price on Meta Platforms from $ 425.00 to $ 325.00 and set a “buy” rating for the company in a research note on Monday, April 25th. UBS Group cut their price target on Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Morgan Stanley cut their price target on Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 1st. Credit Suisse Group lifted their price target on Meta Platforms to $ 273.00 in a research report on Thursday, April 28th. Finally, JMP Securities cut their price target on Meta Platforms from $ 350.00 to $ 265.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $ 305.87.
In other news, insider Jennifer Newstead sold 311 shares of the company stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $ 199.60, for a total value of $ 62,075.60. Following the sale, the insider now directly owns 12,187 shares in the company, valued at $ 2,432,525.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,718 shares of the company stock in a transaction on Sunday, May 15th. The shares were sold at an average price of $ 198.62, for a total value of $ 2,327,429.16. Following the completion of the sale, the chief technology officer now owns 11,913 shares in the company, valued at $ 2,366,160.06. The disclosure for this sale can be found here. Insiders sold 45,564 shares of company stock worth $ 9,130,201 over the last 90 days. Company insiders own 13.59% of the company stock.
META opened at $ 169.49 on Tuesday. The business’s fifty day moving average is $ 188.16 and its two-hundred day moving average is $ 235.52. The company has a market cap of $ 458.69 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.33 and a beta of 1.37. Meta Platforms, Inc. has a one year low of $ 154.25 and a one year high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last posted its earnings results 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. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The company had revenue of $ 27.91 billion for the quarter, compared to the estimate consensus of $ 28.21 billion. During the same period in the previous year, the business earned $ 3.30 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal 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 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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