Platte River Wealth Advisors LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,558 shares of the social networking company stock after selling 399 shares during the period. Meta Platforms comprises about 1.1% of Platte River Wealth Advisors LLC’s portfolio, making the stock its 22nd largest position. Platte River Wealth Advisors LLC’s holdings in Meta Platforms were worth $ 3,015,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of META. Barnett & Company Inc. lifted its stake in shares of Meta Platforms by 105.0% in the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company stock valued at $ 28,000 after purchasing an additional 42 shares during the period. Rise Advisors LLC purchased a new position in Meta Platforms during the fourth quarter worth about $ 28,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $ 31,000. Advocacy Wealth Management Services LLC raised its holdings in Meta Platforms by 65.9% in the first quarter. Advocacy Wealth Management Services LLC now owns 151 shares of the social networking company stock valued at $ 34,000 after acquiring an additional 60 shares in the last quarter. Finally, Evolution Advisers Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $ 48,000. Institutional investors own 65.49% of the company stock.
In other news, insider Jennifer Newstead sold 476 shares of the company 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 transaction, the insider now owns 14,402 shares of the company stock, valued at approximately $ 3,368,915.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marne L. Levine sold 10,252 shares of the company stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $ 198.62, for a total value of $ 2,036,252.24. Following the completion of the transaction, the insider now owns 23,010 shares in the company, valued at $ 4,570,246.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,564 shares of company stock valued at $ 9,130,201. 13.59% of the stock is currently owned by corporate insiders.
META stock opened at $ 169.49 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $ 154.25 and a fifty-two week high of $ 384.33. The stock has a market capitalization of $ 458.69 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.33 and a beta of 1.37. The business’s fifty day moving average price is $ 188.16 and its two-hundred day moving average price is $ 235.52.
Meta Platforms (NASDAQ: META – Get Rating) last released its quarterly earnings data 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 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 period last year, the firm posted $ 3.30 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 11.63 earnings per share for the current fiscal year.
Several brokerages have commented on META. UBS Group dropped their price target on shares of Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Raymond James reduced their target price on Meta Platforms from $ 340.00 to $ 290.00 in a report on Thursday, April 28th. Guggenheim reduced their target price on Meta Platforms from $ 275.00 to $ 250.00 and set a “na” rating for the company in a report on Wednesday, May 18th. StockNews.com began coverage on Meta Platforms in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wedbush cut their target price on shares of Meta Platforms from $ 270.00 to $ 220.00 in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $ 305.87.
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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