Telemus Capital LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,575 shares of the social networking company’s stock after selling 216 shares during the period. Telemus Capital LLC’s holdings in Meta Platforms were worth $3,896,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of 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 buying an additional 1,172,997 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $5,424,543,000. Price T Rowe Associates Inc. MD lifted its stake in 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 period. Norges Bank bought a new position in Meta Platforms during the 4th quarter worth about $4,223,148,000. Finally, Morgan Stanley purchased a new position in Meta Platforms during the 4th quarter valued at about $4,072,543,000. Institutional investors own 62.87% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on META shares. Piper Sandler upped their price target on shares of Meta Platforms from $310.00 to $365.00 in a research report on Thursday, July 27th. KeyCorp increased their target price on Meta Platforms from $280.00 to $335.00 in a research report on Thursday, July 6th. UBS Group boosted their price target on Meta Platforms from $335.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Citigroup raised their price objective on Meta Platforms from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $320.00 to $375.00 in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $319.79.
Meta Platforms Stock Down 3.7 %
META opened at $300.31 on Friday. The company has a fifty day moving average of $302.23 and a two-hundred day moving average of $259.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.32 and a current ratio of 2.32. Meta Platforms, Inc. has a fifty-two week low of $88.09 and a fifty-two week high of $326.20. The stock has a market capitalization of $772.75 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 1.00 and a beta of 1.23.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.87 by $0.36. Meta Platforms had a return on equity of 21.72% and a net margin of 18.70%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $30.91 billion. On average, research analysts expect that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.
Insider Buying and Selling
In other news, CTO Andrew Bosworth sold 8,032 shares of Meta Platforms stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the sale, the chief technology officer now owns 11,588 shares in the company, valued at $3,548,129.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Jennifer Newstead sold 722 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $278.73, for a total transaction of $201,243.06. Following the completion of the sale, the insider now directly owns 35,200 shares in the company, valued at $9,811,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the completion of the transaction, the chief technology officer now owns 11,588 shares in the company, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,179 shares of company stock valued at $12,474,820. 13.75% of the stock is owned by corporate 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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