Everence Capital Management Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 8.7% during the 1st quarter, Holdings Channel reports. The firm owned 64,515 shares of the social networking company stock after buying an additional 5,170 shares during the quarter. Meta Platforms makes up about 1.1% of Everence Capital Management Inc.’s holdings, making its stock its 12th largest holding. Everence Capital Management Inc.’s holdings in Meta Platforms were worth $ 14,346,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of META. Barnett & Company Inc. increased its stake in shares of Meta Platforms by 105.0% during the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company stock worth $ 28,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $ 28,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Meta Platforms in the 4th quarter valued at $ 31,000. Advocacy Wealth Management Services LLC lifted its holdings in Meta Platforms by 65.9% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company stock valued at $ 34,000 after purchasing an additional 60 shares in the last quarter. Finally, Evolution Advisers Inc. acquired a new stake in Meta Platforms during the 4th quarter worth $ 48,000. Institutional investors and hedge funds own 65.49% of the company stock.
In other news, CAO Susan JS Taylor sold 1,420 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $ 202.16, for a total transaction of $ 287,067.20. Following the completion of the sale, the chief accounting officer now directly owns 1,605 shares of the company stock, valued at approximately $ 324,466.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 311 shares of the 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 completion of the transaction, the insider now directly owns 12,187 shares in the company, valued at $ 2,432,525.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,698 shares of company stock worth $ 9,181,081. Insiders own 13.59% of the company stock.
A number of equities analysts recently weighed in on META shares. Truist Financial lowered their price target on shares of Meta Platforms from $ 350.00 to $ 320.00 in a research report on Thursday, April 28th. Wedbush cut their price target on Meta Platforms from $ 270.00 to $ 220.00 in a report on Thursday, April 28th. Rosenblatt Securities began coverage on Meta Platforms in a research note on Tuesday, April 19th. They set a “neutral” rating and a $ 228.00 price objective on the stock. Canaccord Genuity Group reduced their price target on Meta Platforms from $ 360.00 to $ 330.00 in a report on Thursday, April 28th. Finally, Guggenheim decreased their target price on shares of Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. One investment 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $ 305.87.
Shares of Meta Platforms stock opened at $ 163.74 on Tuesday. Meta Platforms, Inc. has a 1 year low of $ 159.61 and a 1 year high of $ 384.33. The business has a 50 day moving average price of $ 193.14 and a 200 day moving average price of $ 241.09. The company has a market capitalization of $ 443.13 billion, a P / E ratio of 12.39, a P / E / G ratio of 1.04 and a beta of 1.37.
Meta Platforms (NASDAQ: META – Get Rating) last announced its earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share for the quarter, beating the consensus estimate of $ 2.54 by $ 0.18. The firm had revenue of $ 27.91 billion during the quarter, compared to the consensus estimate of $ 28.21 billion. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same quarter in the previous year, the company posted $ 3.30 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 11.56 earnings per share for the current fiscal year.
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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