Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by Capital Advisors Wealth Management LLC

Capital Advisors Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 2.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,461 shares of the social networking company’s stock after buying an additional 182 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Meta Platforms were worth $1,659,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Meta Platforms by 1.2% during the fourth quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock worth $53,177,378,000 after purchasing an additional 1,909,538 shares during the period. State Street Corp raised its position in Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after purchasing an additional 1,887,737 shares during the last quarter. Capital International Investors lifted its position in Meta Platforms by 5.9% in the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after acquiring an additional 2,888,336 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock worth $13,629,910,000 after purchasing an additional 950,662 shares during the period. Finally, Norges Bank purchased a new position in shares of Meta Platforms during the 4th quarter valued at $9,595,113,000. 65.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on META shares. Credit Suisse Group lowered their price objective on shares of Meta Platforms from $245.00 to $214.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Mizuho reduced their target price on Meta Platforms from $325.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Citigroup dropped their price target on shares of Meta Platforms from $270.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Royal Bank of Canada dropped their target price on Meta Platforms from $245.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 13th. Finally, UBS Group cut their price target on shares of Meta Platforms from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.98.

Meta Platforms Stock Down 2.0 %

Shares of NASDAQ META traded down $3.44 during trading on Friday, hitting $167.13. The company had a trading volume of 454,741 shares, compared to its average volume of 33,813,188. The stock has a fifty day simple moving average of $166.69 and a two-hundred day simple moving average of $182.90. Meta Platforms, Inc. has a fifty-two week low of $154.25 and a fifty-two week high of $384.33. The firm has a market capitalization of $452.31 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.04). The business had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 9.58 earnings per share for the current year.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $158.14, for a total transaction of $54,083.88. Following the completion of the transaction, the insider now owns 16,721 shares of the company’s stock, valued at $2,644,258.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO David M. Wehner sold 1,222 shares of the firm’s stock in a transaction dated Sunday, May 15th. The stock was sold at an average price of $198.62, for a total value of $242,713.64. Following the transaction, the chief financial officer now owns 12,247 shares in the company, valued at $2,432,499.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $158.14, for a total value of $54,083.88. Following the sale, the insider now directly owns 16,721 shares in the company, valued at approximately $2,644,258.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,236 shares of company stock worth $8,958,728. Company insiders own 13.59% of the company’s stock.

Meta Platforms Company Profile

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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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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