Deltec Asset Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 10.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,139 shares of the social networking company stock after buying an additional 7,500 shares during the period. Meta Platforms accounts for about 3.0% of Deltec Asset Management LLC’s portfolio, making the stock its 6th largest position. Deltec Asset Management LLC’s holdings in Meta Platforms were worth $ 17,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of META. BlackRock Inc. increased its position in Meta Platforms by 1.2% during the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company stock valued at $ 53,177,378,000 after purchasing an additional 1,909,538 shares during the period. State Street Corp increased its position in Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company stock valued at $ 31,719,012,000 after purchasing an additional 1,887,737 shares during the period. Capital International Investors increased its position in 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 purchasing an additional 2,888,336 shares during the period. Geode Capital Management LLC increased its position in Meta Platforms by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company stock valued at $ 13,629,910,000 after purchasing an additional 950,662 shares during the period. Finally, Norges Bank purchased a new position in Meta Platforms during the 4th quarter valued at about $ 9,595,113,000. 65.49% of the stock is currently owned by institutional investors.
Shares of META stock opened at $ 163.74 on Tuesday. The company 50-day moving average price is $ 193.14 and its 200-day moving average price is $ 241.09. The stock has a market cap of $ 443.13 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.04 and a beta of 1.37. Meta Platforms, Inc. has a twelve month low of $ 159.61 and a twelve month 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, beating analysts’ consensus estimates of $ 2.54 by $ 0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The company had revenue of $ 27.91 billion for the quarter, compared to analysts’ expectations of $ 28.21 billion. During the same quarter in the prior year, the company posted $ 3.30 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 11.56 EPS for the current fiscal year.
In other Meta Platforms news, CTO Andrew Bosworth sold 10,126 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $ 203.35, for a total transaction of $ 2,059,122.10. Following the sale, the chief technology officer now directly owns 4,544 shares in the company, valued at $ 924,022.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 476 shares of the business’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $ 233.92, for a total transaction of $ 111,345.92. Following the sale, the insider now owns 14,402 shares in the company, valued at $ 3,368,915.84. The disclosure for this sale can be found here. Insiders sold 45,698 shares of company stock worth $ 9,181,081 in the last ninety days. 13.59% of the stock is currently owned by corporate insiders.
META has been the topic of a number of recent analyst reports. UBS Group lowered their price target on shares of Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Morgan Stanley lowered their price target on shares of Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating on the stock in a report on Wednesday, June 1st. Susquehanna Bancshares lowered their price target on shares of Meta Platforms from $ 375.00 to $ 290.00 in a report on Thursday, April 28th. Mizuho lowered their price target on shares of Meta Platforms from $ 425.00 to $ 325.00 and set a “buy” rating on the stock in a report on Monday, April 25th. Finally, Susquehanna lowered their target price on shares of Meta Platforms from $ 375.00 to $ 290.00 in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $ 305.87.
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 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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