Quent Capital LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,983 shares of the social networking company’s stock after purchasing an additional 104 shares during the period. Quent Capital LLC’s holdings in Meta Platforms were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Meta Platforms by 0.8% during the 1st quarter. BlackRock Inc. now owns 152,934,920 shares of the social networking company’s stock worth $32,413,027,000 after purchasing an additional 1,172,997 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter worth approximately $5,424,543,000. Price T Rowe Associates Inc. MD lifted its holdings in Meta Platforms by 19.2% during the 1st 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 purchasing an additional 6,735,038 shares during the last quarter. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter worth approximately $4,223,148,000. Finally, Morgan Stanley acquired a new stake in Meta Platforms during the 4th quarter worth approximately $4,072,543,000. 62.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on META shares. JMP Securities lifted their price objective on Meta Platforms from $350.00 to $380.00 and gave the company a “market outperform” rating in a report on Thursday, July 27th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, August 2nd. Truist Financial lifted their price objective on Meta Platforms from $340.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, July 27th. HSBC raised Meta Platforms from a “reduce” rating to a “hold” rating and set a $285.00 price objective for the company in a report on Thursday, July 27th. Finally, KeyCorp lifted their price objective on Meta Platforms from $280.00 to $335.00 in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.79.
Meta Platforms Stock Down 3.7 %
Shares of NASDAQ:META opened at $300.31 on Friday. The company has a market capitalization of $772.75 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 1.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.32 and a quick ratio of 2.32. The business’s 50-day moving average is $302.23 and its 200-day moving average is $259.30. Meta Platforms, Inc. has a 1 year low of $88.09 and a 1 year high of $326.20.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.36. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $30.91 billion. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. Equities research analysts predict that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.
In related news, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $3,258,780.17. Following the transaction, the chief financial officer now directly owns 91,617 shares of the company’s stock, valued at approximately $28,052,209.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Nicholas Clegg sold 2,146 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $657,083.74. Following the completion of the sale, the insider now directly owns 12,631 shares of the company’s stock, valued at $3,867,485.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $3,258,780.17. Following the completion of the transaction, the chief financial officer now directly owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The disclosure for this sale can be found here. Insiders have sold 41,179 shares of company stock valued at $12,474,820 in the last ninety days. 13.75% of the stock is owned by company insiders.
Meta Platforms Profile
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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