Waters Parkerson & CO. LLC increased its position in Meta Platforms, Inc. (NASDAQ: META – Get Rating) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,432 shares of the social networking company stock after buying an additional 603 shares during the quarter. Meta Platforms accounts for approximately 3.0% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 9th largest position. Waters Parkerson & CO. LLC’s holdings in Meta Platforms were worth $ 56,316,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Autus Asset Management LLC increased its stake in shares of Meta Platforms by 5.4% in the fourth quarter. Autus Asset Management LLC now owns 643 shares of the social networking company stock valued at $ 217,000 after buying an additional 33 shares during the period. Well Done LLC increased its stake in shares of Meta Platforms by 1.9% in the fourth quarter. Well Done LLC now owns 1,829 shares of the social networking company stock valued at $ 615,000 after buying an additional 34 shares during the period. JGP Wealth Management LLC increased its stake in shares of Meta Platforms by 1.9% in the fourth quarter. JGP Wealth Management LLC now owns 1,903 shares of the social networking company stock valued at $ 617,000 after buying an additional 36 shares during the period. Segall Bryant & Hamill LLC increased its position in Meta Platforms by 0.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,993 shares of the social networking company stock valued at $ 1,694,000 after purchasing an additional 40 shares during the period. Finally, TruWealth Advisors LLC increased its position in Meta Platforms by 2.8% during the 4th quarter. TruWealth Advisors LLC now owns 1,465 shares of the social networking company stock valued at $ 493,000 after purchasing an additional 40 shares during the period. 65.49% of the stock is owned by institutional investors.
In related news, CTO Andrew Bosworth sold 11,718 shares of Meta Platforms 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 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 SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 768 shares of Meta Platforms stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $ 211.37, for a total value of $ 162,332.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,782 shares of company stock valued at $ 9,221,039. Insiders own 13.59% of the company stock.
A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $ 330.00 to $ 310.00 in a research report on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Meta Platforms in a research report on Friday, March 11th. They set a “buy” rating and a $ 265.00 target price for the company. Piper Sandler decreased their target price on shares of Meta Platforms from $ 230.00 to $ 220.00 and set a “neutral” rating for the company in a research report on Thursday, June 2nd. The Goldman Sachs Group decreased their target price on shares of Meta Platforms from $ 300.00 to $ 290.00 and set a “buy” rating for the company in a research report on Thursday, June 9th. Finally, Evercore ISI decreased their target price on shares of Meta Platforms from $ 350.00 to $ 325.00 in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $ 305.87.
Shares of Meta Platforms stock opened at $ 160.87 on Friday. Meta Platforms, Inc. has a 1 year low of $ 159.61 and a 1 year high of $ 384.33. The firm has a market cap of $ 435.37 billion, a PE ratio of 12.17, a P / E / G ratio of 1.12 and a beta of 1.37. The stock has a fifty day moving average price of $ 195.37 and a 200-day moving average price of $ 244.36.
Meta Platforms (NASDAQ: META – Get Rating) last announced its earnings results on Wednesday, April 27th. The social networking company reported $ 2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 2.54 by $ 0.18. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. The firm had revenue of $ 27.91 billion during the quarter, compared to analyst estimates of $ 28.21 billion. During the same period last year, the firm posted $ 3.30 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 11.56 EPS for the current fiscal year.
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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