RNC Capital Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 381.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,058 shares of the social networking company's stock after buying an additional 7,970 shares during the quarter. RNC Capital Management LLC's holdings in Meta Platforms were worth $5,797,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter worth $33,000. JCIC Asset Management Inc. increased its holdings in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after acquiring an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $47,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 18,332 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $764.71, for a total value of $14,018,663.72. Following the completion of the transaction, the chief financial officer directly owned 84,141 shares of the company's stock, valued at $64,343,464.11. This trade represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,358 shares of company stock valued at $228,847,292 over the last quarter. Insiders own 13.61% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Citigroup reissued an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Morgan Stanley increased their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Stifel Nicolaus increased their target price on shares of Meta Platforms from $845.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $920.00 price objective on shares of Meta Platforms in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $822.41.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Stock Performance
NASDAQ:META opened at $752.45 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $1.89 trillion, a P/E ratio of 27.24, a PEG ratio of 1.55 and a beta of 1.24. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The firm has a 50-day moving average of $738.39 and a two-hundred day moving average of $658.81.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same period in the previous year, the company earned $5.16 earnings per share. Meta Platforms's quarterly revenue was up 21.6% on a year-over-year basis. Meta Platforms has set its Q3 2025 guidance at EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal 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.
Further Reading
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