Tlwm lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,751 shares of the social networking company’s stock after selling 64 shares during the period. Meta Platforms makes up about 0.6% of Tlwm’s holdings, making the stock its 16th biggest position. Tlwm’s holdings in Meta Platforms were worth $2,224,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $25,000. Worth Asset Management LLC raised its holdings in Meta Platforms by 248.6% during the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Sageworth Trust Co acquired a new position in Meta Platforms during the first quarter worth $26,000. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at $26,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $27,000. 62.87% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on META shares. Tigress Financial boosted their price objective on Meta Platforms from $285.00 to $380.00 in a report on Thursday, July 6th. KeyCorp boosted their price target on shares of Meta Platforms from $280.00 to $335.00 in a report on Thursday, July 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $400.00 price objective on shares of Meta Platforms in a research note on Friday, August 18th. The Goldman Sachs Group upped their target price on Meta Platforms from $300.00 to $335.00 and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Argus lifted their price target on Meta Platforms from $353.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.79.
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $292.55, for a total value of $196,008.50. Following the transaction, the insider now owns 39,690 shares of the company’s stock, valued at $11,611,309.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $292.55, for a total transaction of $196,008.50. Following the completion of the sale, the insider now directly owns 39,690 shares of the company’s stock, valued at $11,611,309.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 7,636 shares of Meta Platforms stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $2,338,066.84. Following the transaction, the chief operating officer now owns 83,536 shares in the company, valued at approximately $25,577,887.84. The disclosure for this sale can be found here. Insiders sold 40,457 shares of company stock valued at $12,273,577 over the last 90 days. Company insiders own 14.03% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ META opened at $302.55 on Tuesday. The firm’s 50-day moving average price is $302.40 and its 200-day moving average price is $260.80. Meta Platforms, Inc. has a 52-week low of $88.09 and a 52-week high of $326.20. The company has a market cap of $778.51 billion, a PE ratio of 35.26, a PEG ratio of 0.99 and a beta of 1.23. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.14.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.36. The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. As a group, analysts anticipate that Meta Platforms, Inc. will post 13.17 EPS for the current year.
About Meta Platforms
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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