Mitchell Mcleod Pugh & Williams Inc. Acquires 265 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mitchell Mcleod Pugh & Williams Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,569 shares of the social networking company’s stock after acquiring an additional 265 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Meta Platforms were worth $1,800,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. S.A. Mason LLC grew its holdings in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN boosted its position in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. Northern Capital Management Inc. grew its holdings in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the last quarter. Buckingham Capital Management Inc. increased its position in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management raised its stake in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Down 1.8 %

Shares of META stock opened at $511.76 on Wednesday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The company has a 50-day simple moving average of $505.32 and a two-hundred day simple moving average of $493.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company 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 company posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Oppenheimer increased their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. Truist Financial increased 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, JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” 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 given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Insider Activity

In related news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $492.98, for a total transaction of $203,107.76. Following the completion of the transaction, the chief operating officer now owns 8,443 shares in the company, valued at $4,162,230.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 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 $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $492.98, for a total value of $203,107.76. Following the transaction, the chief operating officer now owns 8,443 shares of the company’s stock, valued at approximately $4,162,230.14. The disclosure for this sale can be found here. Insiders sold a total of 392,082 shares of company stock valued at $202,909,089 in the last ninety days. 13.71% of the stock is currently owned by insiders.

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.