LifeSteps Financial Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META – Get Rating) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,432 shares of the social networking company’s stock after selling 70 shares during the period. LifeSteps Financial Inc.’s holdings in Meta Platforms were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in META. Norges Bank acquired a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $9,595,113,000. Dodge & Cox lifted its position in shares of Meta Platforms by 78.7% during the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock valued at $2,238,518,000 after acquiring an additional 2,931,894 shares during the period. Capital International Investors lifted its position in shares of Meta Platforms by 5.9% during the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after acquiring an additional 2,888,336 shares during the period. HS Management Partners LLC lifted its position in shares of Meta Platforms by 463.7% during the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after acquiring an additional 2,325,382 shares during the period. Finally, TD Asset Management Inc. lifted its position in shares of Meta Platforms by 52.7% during the 4th quarter. TD Asset Management Inc. now owns 6,124,750 shares of the social networking company’s stock valued at $2,060,059,000 after acquiring an additional 2,114,636 shares during the period. Hedge funds and other institutional investors own 65.49% of the company’s stock.
Several research analysts recently issued reports on META shares. Citigroup upgraded Meta Platforms from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $258.00 to $300.00 in a research report on Wednesday, April 20th. Wedbush cut their price objective on Meta Platforms from $270.00 to $220.00 in a research report on Thursday, April 28th. Guggenheim cut their price objective on Meta Platforms from $275.00 to $250.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Susquehanna cut their price objective on Meta Platforms from $375.00 to $290.00 in a research report on Thursday, April 28th. Finally, Morgan Stanley cut their price objective on Meta Platforms from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $305.87.
Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.18. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. The firm had revenue of $27.91 billion for the quarter, compared to analyst estimates of $28.21 billion. During the same quarter in the previous year, the business posted $3.30 EPS. On average, analysts predict that Meta Platforms, Inc. will post 11.63 earnings per share for the current year.
In other Meta Platforms news, CAO Susan J.S. Taylor sold 1,420 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total value of $287,067.20. Following the transaction, the chief accounting officer now owns 1,605 shares in the company, valued at approximately $324,466.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 476 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $233.92, for a total transaction of $111,345.92. Following the completion of the transaction, the insider now owns 14,402 shares in the company, valued at approximately $3,368,915.84. The disclosure for this sale can be found here. Insiders sold a total of 45,698 shares of company stock worth $9,181,081 in the last quarter. 13.59% of the stock is currently owned by company insiders.
Meta Platforms Profile (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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