Fifth Third Bancorp increased its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 650,595 shares of the social networking company's stock after buying an additional 28,119 shares during the quarter. Meta Platforms comprises 1.2% of Fifth Third Bancorp's portfolio, making the stock its 16th largest position. Fifth Third Bancorp's holdings in Meta Platforms were worth $315,916,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company's stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company's stock worth $31,000 after buying an additional 42 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth $32,000. PayPay Securities Corp raised its holdings in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company's stock valued at $33,000 after acquiring an additional 43 shares in the last quarter. Finally, Clear Investment Research LLC boosted its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Stock Performance
Meta Platforms stock traded up $2.49 during trading hours on Thursday, hitting $441.68. The stock had a trading volume of 14,701,431 shares, compared to its average volume of 18,414,781. The company has a 50-day moving average of $492.25 and a two-hundred day moving average of $407.19. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49. The company has a market cap of $1.13 trillion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analysts' expectations of $36.28 billion. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.
Insiders Place Their Bets
In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the company's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total value of $256,128.00. Following the sale, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the business's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the transaction, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 490 shares of the company's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $517.75, for a total transaction of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares in the company, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders sold a total of 1,257,876 shares of company stock worth $613,168,252 over the last quarter. Company insiders own 13.71% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on META shares. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada lowered their price target on Meta Platforms from $600.00 to $570.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. KeyCorp reduced their price objective on Meta Platforms from $575.00 to $555.00 and set an "overweight" rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Meta Platforms from $535.00 to $480.00 and set an "overweight" rating on the stock in a report on Thursday, April 25th. Finally, Tigress Financial lifted their price target on shares of Meta Platforms from $435.00 to $575.00 and gave the company a "strong-buy" rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.80.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Profile
(
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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