LGL Partners LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

LGL Partners LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,814 shares of the social networking company’s stock after selling 49 shares during the period. LGL Partners LLC’s holdings in Meta Platforms were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of META. S.A. Mason LLC raised its position in shares of 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 during the period. Horizon Bancorp Inc. IN raised its holdings in 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 worth $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. boosted its position in Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares in the last quarter. Buckingham Capital Management Inc. grew its holdings in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the period. Finally, LongView Wealth Management increased its position in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Jefferies Financial Group lifted their price objective on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $512.74 on Thursday. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50-day moving average of $505.31 and a 200 day moving average of $493.77. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 4,909 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $519.17, for a total value of $2,548,605.53. Following the sale, the chief executive officer now directly owns 519,000 shares of the company’s stock, valued at approximately $269,449,230. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 390,072 shares of company stock worth $201,913,948. Company insiders own 13.71% of the company’s stock.

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.