Armis Advisers LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,557 shares of the social networking company's stock, valued at approximately $912,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC boosted its stake in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors raised its stake in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the transaction, the insider now owns 30,740 shares in the company, valued at $19,535,270. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total transaction of $298,418.75. Following the completion of the transaction, the director now owns 10,272 shares of the company's stock, valued at $6,453,384. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,628 shares of company stock worth $48,380,586 in the last ninety days. Company insiders own 13.71% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on META. Oppenheimer raised their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Loop Capital raised their price objective on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a report on Friday, May 16th. Roth Capital increased their price target on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, Bank of America lifted their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.
Check Out Our Latest Analysis on Meta Platforms
Meta Platforms Stock Up 2.4%
META traded up $15.26 during mid-day trading on Tuesday, reaching $642.32. 9,473,309 shares of the stock were exchanged, compared to its average volume of 14,474,756. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a 50 day moving average price of $575.66 and a two-hundred day moving average price of $609.55. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock has a market capitalization of $1.62 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.
Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 earnings per share. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
About Meta Platforms
(
Free Report)
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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