BLB&B Advisors LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,436 shares of the social networking company’s stock after selling 445 shares during the period. BLB&B Advisors LLC’s holdings in Meta Platforms were worth $1,209,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in META. Barnett & Company Inc. lifted its holdings in shares of Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $28,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $31,000. Advocacy Wealth Management Services LLC raised its holdings in shares of Meta Platforms by 65.9% during the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Evolution Advisers Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth $48,000. Institutional investors own 65.49% of the company’s stock.
NASDAQ:META opened at $163.94 on Thursday. Meta Platforms, Inc. has a 1 year low of $154.25 and a 1 year high of $384.33. The firm has a 50-day moving average of $186.30 and a 200-day moving average of $233.85. The stock has a market capitalization of $443.67 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37.
Meta Platforms (NASDAQ:META – Get Rating) last posted its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share (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 during the quarter, compared to analysts’ expectations of $28.21 billion. During the same quarter in the previous year, the company posted $3.30 earnings per share. On average, analysts anticipate that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
In other Meta Platforms news, CAO Susan JS Taylor sold 1,420 shares of Meta Platforms 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 owns 1,605 shares of the company’s stock, valued at approximately $324,466.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 476 shares of Meta Platforms stock in a transaction on 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 directly owns 14,402 shares of the company’s stock, valued at approximately $3,368,915.84. The disclosure for this sale can be found here. Insiders sold 45,564 shares of company stock valued at $9,130,201 in the last quarter. 13.59% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on Meta Platforms from $300.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, June 9th. Truist Financial cut their price objective on Meta Platforms from $350.00 to $320.00 in a report on Thursday, April 28th. MKM Partners cut their price objective on Meta Platforms from $315.00 to $295.00 in a report on Thursday, April 28th. Susquehanna Bancshares cut their price objective on Meta Platforms from $375.00 to $290.00 in a report on Thursday, April 28th. Finally, Credit Suisse Group raised their target price on Meta Platforms to $273.00 in a report on Thursday, April 28th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.56.
About Meta Platforms: (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 feeds, stories, reels, videos, 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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