Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Armbruster Capital Management Inc.

Armbruster Capital Management Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the second quarter, Holdings Channel.com reports. The fund owned 598 shares of the social networking company’s stock after acquiring an additional 29 shares during the period. Armbruster Capital Management Inc.’s holdings in Meta Platforms were worth $302,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of META. Quest Partners LLC acquired a new position in Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC grew its holdings in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the transaction, the insider now owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total value of $431,685.00. Following the transaction, the insider now directly owns 41,465 shares in the company, valued at $19,778,805. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 388,078 shares of company stock valued at $200,792,168 in the last three months. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on META shares. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. UBS Group increased their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ META opened at $521.31 on Friday. The stock has a market cap of $1.32 trillion, a PE ratio of 29.94, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The company has a 50-day moving average of $504.85 and a 200 day moving average of $492.74.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

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.