BlackRock Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,101,319 shares of the social networking company stock after purchasing an additional 1,909,538 shares during the period. Meta Platforms comprises about 1.4% of BlackRock Inc.’s portfolio, making the stock its 7th biggest position. BlackRock Inc. owned about 5.81% of Meta Platforms worth $ 53,177,378,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Dodge & Cox increased its stake 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 buying an additional 2,931,894 shares during the period. Capital International Investors increased its stake 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 buying an additional 2,888,336 shares during the period. HS Management Partners LLC increased its stake 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 buying an additional 2,325,382 shares during the period. TD Asset Management Inc. increased its stake 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 buying an additional 2,114,636 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Meta Platforms by 97.6% in the fourth quarter. ProShare Advisors LLC now owns 4,186,800 shares of the social networking company stock valued at $ 1,408,232,000 after purchasing an additional 2,067,705 shares in the last quarter. Institutional investors own 65.49% of the company stock.
A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Meta Platforms in a report on Friday, March 11th. They issued a “buy” rating and a $ 265.00 price target for the company. MKM Partners lowered their price target on Meta Platforms from $ 315.00 to $ 295.00 in a report on Thursday, April 28th. BMO Capital Markets lowered their price target on Meta Platforms from $ 290.00 to $ 225.00 in a report on Friday, April 22nd. Piper Sandler decreased their price objective on Meta Platforms from $ 230.00 to $ 220.00 and set a “neutral” rating for the company in a report on Thursday, June 2nd. Finally, UBS Group decreased their price objective on Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has a consensus rating of “Buy” and a consensus target price of $ 305.87.
In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $ 194.93, for a total value of $ 66,666.06. Following the sale, the insider now directly owns 19,799 shares of the company stock, valued at approximately $ 3,859,419.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 11,718 shares of the firm’s stock in a transaction dated Sunday, May 15th. The stock was 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 directly owns 11,913 shares in the company, valued at $ 2,366,160.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,782 shares of company stock worth $ 9,221,039. Corporate insiders own 13.59% of the company stock.
Shares of META stock opened at $ 160.87 on Friday. Meta Platforms, Inc. has a fifty-two week low of $ 159.61 and a fifty-two week high of $ 384.33. The stock has a market cap of $ 435.37 billion, a P / E ratio of 12.17, a P / E / G ratio of 1.08 and a beta of 1.37. The business has a fifty day simple moving average of $ 195.37 and a 200-day simple moving average of $ 244.36.
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 analysts’ consensus estimates of $ 2.54 by $ 0.18. The business had revenue of $ 27.91 billion for the quarter, compared to analyst estimates of $ 28.21 billion. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same quarter last year, the company earned $ 3.30 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 11.56 EPS for the current 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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