Pflug Koory LLC grew its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,177 shares of the social networking company stock after buying an additional 89 shares during the period. Pflug Koory LLC’s holdings in Meta Platforms were worth $ 262,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of META. Norges Bank acquired a new position in shares of Meta Platforms in the 4th quarter valued at $ 9,595,113,000. Dodge & Cox boosted its holdings in shares of Meta Platforms by 78.7% in 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 boosted its holdings in shares of Meta Platforms by 5.9% in 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 valued at $ 182,104,000 after purchasing an additional 2,325,382 shares during the last quarter. 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 valued at $ 2,060,059,000 after purchasing an additional 2,114,636 shares during the last quarter. Institutional investors and hedge funds own 65.49% of the company stock.
NASDAQ META opened at $ 170.16 on Friday. The business’s 50-day moving average price is $ 188.99 and its 200 day moving average price is $ 237.88. The company has a market capitalization of $ 460.51 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.37. Meta Platforms, Inc. has a twelve month low of $ 154.25 and a twelve month high of $ 384.33.
Meta Platforms (NASDAQ: META – Get Rating) last released 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 company had revenue of $ 27.91 billion for the quarter, compared to the estimate consensus of $ 28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period last year, the business posted $ 3.30 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.
In other news, insider Nicholas Clegg sold 6,425 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $ 202.16, for a total value of $ 1,298,878.00. Following the completion of the sale, the insider now owns 9,596 shares in the company, valued at $ 1,939,927.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 476 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $ 233.92, for a total value of $ 111,345.92. Following the completion of the sale, the insider now owns 14,402 shares of the company stock, valued at approximately $ 3,368,915.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,040 shares of company stock worth $ 9,237,891. Company insiders own 13.59% of the company stock.
Several research firms recently commented on META. Canaccord Genuity Group reduced their price target on shares of Meta Platforms from $ 360.00 to $ 330.00 in a research report on Thursday, April 28th. JMP Securities reduced their price target on shares of Meta Platforms from $ 350.00 to $ 265.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 19th. Royal Bank of Canada reduced their price target on shares of Meta Platforms from $ 245.00 to $ 240.00 and set an “outperform” rating for the company in a research report on Wednesday, April 13th. Citigroup upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $ 258.00 to $ 300.00 in a research report on Wednesday, April 20th. Finally, MKM Partners cut their price objective on shares of Meta Platforms from $ 315.00 to $ 295.00 in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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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