3 days Ago By ABMN Staff
Eagle Strategies LLC cut its holdings in Meta Platforms, Inc. ( NASDAQ:META – Free Report ) by 26.6% in the second quarter, HoldingsChannel reports.
The institutional investor owned 1,171 shares of the social networking company’s stock after selling 425 shares during the quarter. Eagle Strategies LLC’s holdings in Meta Platforms were worth $590,000 as of its most recent SEC filing. Several other institutional investors have also added to or reduced their stakes in META.
Capital Research Global Investors raised its position in shares of Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter.
Concentrum Wealth Management raised its position in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter.
Vanguard Group Inc. raised its position in Meta Platforms by 1.7% during the 4th quarter.
Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Jennison Associates LLC raised its position in Meta Platforms by 24.
7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. Finally, Morningstar Investment Services LLC purchased a new position in Meta Platforms during the 4th quarter worth approximately $406,316,000.
Institutional investors and hedge funds own 79.91% of the company’s stock. Insider Buying and Selling In related news, CEO Mark Zuckerberg sold 2,054 shares of the company’s stock in a transaction that occurred on Friday, June 21st.
The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70.
Following the sale, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a legal filing with the SEC, which is available through this link . In related news, CEO Mark Zuckerberg sold 2,054 shares of the company’s stock in a transaction that occurred on Friday, June 21st.
The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70.
Following the sale, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a legal filing with the SEC, which is available through this link . Also, CFO Susan J.
Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.
00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04.
The disclosure for this sale can be found here . Insiders have sold a total of 357,574 shares of company stock valued at $185,587,773 in the last ninety days. Company insiders own 13.
71% of the company’s stock. Meta Platforms Stock Down 0.2 % Meta Platforms ( NASDAQ:META – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st.
The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.
46. The firm had revenue of $39.07 billion for 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%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis.
During the same period in the previous year, the firm earned $3.23 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc.
will post 21.36 earnings per share for the current year. Meta Platforms Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th.
Investors of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.
00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th.
Meta Platforms’s payout ratio is currently 11.49%. Analyst Upgrades and Downgrades A number of equities analysts have issued reports on the stock.
Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company.
Oppenheimer lifted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st.
BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $562.
00 to $643.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Robert W.
Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st.
Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $577.
26. Read Our Latest Report on Meta Platforms About Meta Platforms ( 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. Read More Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc.
( NASDAQ:META – Free Report ). Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter .
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