Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Global Financial Private Client LLC

Global Financial Private Client LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the second quarter, HoldingsChannel.com reports. The firm owned 3,540 shares of the social networking company’s stock after buying an additional 127 shares during the period. Meta Platforms accounts for 0.7% of Global Financial Private Client LLC’s portfolio, making the stock its 26th biggest position. Global Financial Private Client LLC’s holdings in Meta Platforms were worth $1,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors raised its stake in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital International Investors raised its stake in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Capital Research Global Investors grew its stake in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms in the fourth quarter valued at about $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on META shares. Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Loop Capital increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Truist Financial boosted their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Two 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. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 388,078 shares of company stock worth $200,792,168. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.6 %

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

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

About Meta Platforms

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.