Strategic Global Advisors LLC Purchases 867 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strategic Global Advisors LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,263 shares of the social networking company's stock after acquiring an additional 867 shares during the quarter. Meta Platforms comprises about 2.3% of Strategic Global Advisors LLC's investment portfolio, making the stock its 9th biggest position. Strategic Global Advisors LLC's holdings in Meta Platforms were worth $12,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth about $19,949,512,000. Proficio Capital Partners LLC grew its position in Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Meta Platforms during the fourth quarter worth about $2,243,603,000. Northern Trust Corp increased its stake in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after acquiring an additional 1,892,509 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $640.34 on Friday. The company has a market cap of $1.61 trillion, a PE ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company's 50-day moving average is $571.37 and its two-hundred day moving average is $606.82.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on META shares. Loop Capital raised their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday. Benchmark reduced their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Roth Capital boosted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Insider Activity

In related news, insider Jennifer Newstead sold 907 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $645.77, for a total value of $585,713.39. Following the sale, the insider now directly owns 24,749 shares in the company, valued at $15,982,161.73. This trade represents a 3.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares of the company's stock, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock valued at $41,665,958 in the last 90 days. 13.71% 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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