Byrne Asset Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 60.3% in the first quarter, Holdings Channel.com reports. The firm owned 10,884 shares of the social networking company stock after purchasing an additional 4,095 shares during the period. Meta Platforms comprises approximately 1.5% of Byrne Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Byrne Asset Management LLC’s holdings in Meta Platforms were worth $ 2,420,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in META. Norges Bank purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $ 9,595,113,000. Dodge & Cox raised its holdings in shares of 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 acquiring an additional 2,931,894 shares in the last quarter. Capital International Investors raised its holdings in shares of 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 acquiring an additional 2,888,336 shares in the last quarter. HS Management Partners LLC raised its holdings in shares of 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 acquiring an additional 2,325,382 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 2,114,636 shares in the last quarter. Institutional investors own 65.49% of the company stock.
META opened at $ 163.74 on Monday. The stock 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, Inc. has a 12 month low of $ 159.61 and a 12 month high of $ 384.33. The firm’s fifty day simple moving average is $ 194.19 and its 200 day simple moving average is $ 242.11.
Meta Platforms (NASDAQ: META – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The social networking company reported $ 2.72 EPS for the quarter, beating the consensus estimate of $ 2.54 by $ 0.18. The business had revenue of $ 27.91 billion for 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 firm posted $ 3.30 EPS. As a group, equities research analysts predict that Meta Platforms, Inc. will post 11.56 EPS for the current fiscal year.
META has been the subject of several recent research reports. Raymond James cut their price objective on Meta Platforms from $ 340.00 to $ 290.00 in a report on Thursday, April 28th. Canaccord Genuity Group lowered their target price on shares of Meta Platforms from $ 360.00 to $ 330.00 in a research report on Thursday, April 28th. downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. Susquehanna Bancshares lowered their target price on shares of Meta Platforms from $ 375.00 to $ 290.00 in a research report on Thursday, April 28th. Finally, Moffett Nathanson lowered their target price on shares of Meta Platforms to $ 280.00 in a research report on Thursday, May 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $ 305.87.
In other Meta Platforms news, CTO Andrew Bosworth sold 11,718 shares of the business’s stock in a transaction dated Sunday, May 15th. The shares were sold at an average price of $ 198.62, for a total transaction of $ 2,327,429.16. Following the sale, the chief technology officer now directly owns 11,913 shares of the company stock, valued at approximately $ 2,366,160.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 342 shares of the company stock in a transaction dated 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 sale, the insider now directly owns 19,115 shares in the company, valued at $ 3,170,987.35. The disclosure for this sale can be found here. Insiders have sold a total of 46,466 shares of company stock worth $ 9,343,413 over the last three months. Insiders own 13.59% of the company stock.
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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