Beaumont Financial Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,168 shares of the social networking company’s stock after buying an additional 1,130 shares during the quarter. Meta Platforms comprises about 1.1% of Beaumont Financial Partners LLC’s portfolio, making the stock its 26th largest position. Beaumont Financial Partners LLC’s holdings in Meta Platforms were worth $13,841,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in META. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Meta Platforms by 13.4% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 627,832 shares of the social networking company’s stock valued at $211,181,000 after purchasing an additional 74,049 shares during the last quarter. TrueWealth Advisors LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $250,000. Helios Capital Management PTE. Ltd. bought a new stake in Meta Platforms during the 4th quarter worth approximately $3,733,000. Intelligence Driven Advisers LLC bought a new stake in Meta Platforms during the 4th quarter worth approximately $276,000. Finally, Investment Management of Virginia LLC grew its holdings in Meta Platforms by 27.7% during the 4th quarter. Investment Management of Virginia LLC now owns 921 shares of the social networking company’s stock worth $310,000 after acquiring an additional 200 shares during the last quarter. 65.49% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Atlantic Securities set a $215.00 target price on shares of Meta Platforms in a report on Tuesday, July 19th. Evercore ISI reduced their target price on shares of Meta Platforms from $280.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Barclays dropped their price target on shares of Meta Platforms from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Meta Platforms from $265.00 to $235.00 in a research report on Thursday, July 21st. Finally, Royal Bank of Canada dropped their price target on shares of Meta Platforms from $245.00 to $240.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 13th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.98.
Insider Buying and Selling
Meta Platforms Stock Down 2.0 %
NASDAQ META traded down $3.46 during trading hours on Friday, reaching $167.11. The company’s stock had a trading volume of 25,832,699 shares, compared to its average volume of 30,145,862. The firm’s 50-day moving average price is $166.98 and its 200-day moving average price is $182.37. Meta Platforms, Inc. has a 1 year low of $154.25 and a 1 year high of $384.33. The company has a market capitalization of $449.12 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32.
Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a return on equity of 26.52% and a net margin of 28.16%. The business had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. During the same period in the prior year, the firm posted $3.61 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 9.58 EPS for the current fiscal year.
Meta Platforms Profile
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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