Veritable L.P. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,055 shares of the social networking company’s stock after acquiring an additional 730 shares during the quarter. Veritable L.P.’s holdings in Meta Platforms were worth $14,652,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Meta Platforms by 101,072.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 777,798,687 shares of the social networking company’s stock valued at $223,212,667,000 after purchasing an additional 777,029,902 shares during the period. BlackRock Inc. raised its position in shares of Meta Platforms by 0.8% in the first quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock valued at $32,413,027,000 after purchasing an additional 1,172,997 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Meta Platforms by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,803,774 shares of the social networking company’s stock worth $8,859,893,000 after acquiring an additional 6,735,038 shares during the last quarter. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter worth $4,223,148,000. Finally, Morgan Stanley acquired a new stake in shares of Meta Platforms in the fourth quarter worth $4,072,543,000. Institutional investors own 62.87% of the company’s stock.
Wall Street Analysts Forecast Growth
META has been the topic of several research analyst reports. Susquehanna raised their price objective on shares of Meta Platforms from $310.00 to $400.00 in a research note on Thursday, July 27th. Bank of America raised their price objective on shares of Meta Platforms from $350.00 to $375.00 in a research note on Thursday, July 27th. Robert W. Baird raised their price objective on shares of Meta Platforms from $260.00 to $355.00 in a research note on Thursday, July 27th. China Renaissance upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $380.00 price objective on the stock in a research note on Friday, July 28th. Finally, The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $300.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $346.65.
Read Our Latest Stock Analysis on META
Insider Activity at Meta Platforms
In related news, COO Javier Olivan sold 4,277 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $293.00, for a total transaction of $1,253,161.00. Following the completion of the sale, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at approximately $24,277,394. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 28,009 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 4,277 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $293.00, for a total value of $1,253,161.00. Following the sale, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at $24,277,394. The disclosure for this sale can be found here. Insiders have sold 124,341 shares of company stock worth $39,293,937 in the last ninety days. Company insiders own 14.03% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META opened at $335.31 on Tuesday. The company has a market capitalization of $861.70 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 1.09 and a beta of 1.21. The firm’s 50 day simple moving average is $308.71 and its 200 day simple moving average is $290.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 2.57. Meta Platforms, Inc. has a fifty-two week low of $108.32 and a fifty-two week high of $335.70.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77. The business had revenue of $34.15 billion for the quarter, compared to the consensus estimate of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. Meta Platforms’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 14.13 earnings per share for the current year.
Meta Platforms Profile
(Free Report)
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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