LCM Capital Management Inc Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

LCM Capital Management Inc raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,473 shares of the social networking company’s stock after purchasing an additional 92 shares during the quarter. Meta Platforms accounts for about 0.8% of LCM Capital Management Inc’s holdings, making the stock its 23rd biggest position. LCM Capital Management Inc’s holdings in Meta Platforms were worth $1,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. S.A. Mason LLC raised its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. lifted its stake in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the period. Buckingham Capital Management Inc. boosted its holdings in Meta Platforms by 5.1% during the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares in the last quarter. Finally, LongView Wealth Management boosted its stake in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the completion of the sale, the chief executive officer now directly owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the sale, the chief executive officer now directly owns 301,478 shares of the company’s stock, valued at $151,697,700.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold 390,072 shares of company stock valued at $201,913,948 in the last quarter. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.2 %

NASDAQ:META opened at $512.74 on Thursday. The business has a fifty day moving average of $505.31 and a 200-day moving average of $493.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. Jefferies Financial Group raised their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. TD Securities upped their price target on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Robert W. Baird raised their price objective on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm lifted their price objective on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Company 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.