Swarthmore Group Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 90.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,222 shares of the social networking company stock after selling 11,769 shares during the quarter. Swarthmore Group Inc.’s holdings in Meta Platforms were worth $ 272,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of META. Everence Capital Management Inc. increased its position in shares of Meta Platforms by 8.7% in the first quarter. Everence Capital Management Inc. now owns 64,515 shares of the social networking company stock valued at $ 14,346,000 after buying an additional 5,170 shares in the last quarter. Deltec Asset Management LLC grew its stake in Meta Platforms by 10.6% in the 1st quarter. Deltec Asset Management LLC now owns 78,139 shares of the social networking company stock valued at $ 17,375,000 after acquiring an additional 7,500 shares during the period. First National Bank of South Miami increased its holdings in Meta Platforms by 17.2% in the 1st quarter. First National Bank of South Miami now owns 3,570 shares of the social networking company stock worth $ 794,000 after acquiring an additional 523 shares in the last quarter. Bridges Investment Management Inc. lifted its holdings in Meta Platforms by 1.8% during the first quarter. Bridges Investment Management Inc. now owns 188,895 shares of the social networking company stock valued at $ 42,003,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Optimum Investment Advisors grew its position in shares of Meta Platforms by 6.7% in the first quarter. Optimum Investment Advisors now owns 8,878 shares of the social networking company stock valued at $ 1,974,000 after purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 65.49% of the company stock.
NASDAQ META opened at $ 163.74 on Tuesday. The company has a market cap 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 company has a 50-day moving average of $ 193.14 and a 200-day moving average of $ 241.09.
Meta Platforms (NASDAQ: META – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 EPS for the quarter, topping the consensus estimate of $ 2.54 by $ 0.18. The firm had revenue of $ 27.91 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $ 3.30 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 11.56 EPS for the current fiscal year.
In other news, insider Jennifer Newstead sold 342 shares of the company stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $ 165.89, for a total value of $ 56,734.38. Following the completion of the transaction, the insider now directly owns 19,115 shares in the company, valued at $ 3,170,987.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marne L. Levine sold 10,252 shares of Meta Platforms stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $ 198.62, for a total transaction of $ 2,036,252.24. Following the sale, the insider now directly owns 23,010 shares in the company, valued at approximately $ 4,570,246.20. The disclosure for this sale can be found here. Insiders sold 45,698 shares of company stock worth $ 9,181,081 in the last quarter. 13.59% of the stock is owned by insiders.
Several analysts recently commented on the company. Morgan Stanley dropped their price target on Meta Platforms from $ 330.00 to $ 300.00 and set an “overweight” rating for the company in a research report on Wednesday, June 1st. UBS Group lowered their price objective on Meta Platforms from $ 310.00 to $ 215.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Piper Sandler cut their target price on Meta Platforms from $ 230.00 to $ 220.00 and set a “neutral” rating for the company in a research note on Thursday, June 2nd. Truist Financial decreased their price objective on Meta Platforms from $ 350.00 to $ 320.00 in a report on Thursday, April 28th. Finally, TheStreet cut Meta Platforms from a “b-” rating to a “c” rating in a research note on Friday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 305.87.
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 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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