FSB Premier Wealth Management Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 12.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,692 shares of the social networking company’s stock after buying an additional 182 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Meta Platforms were worth $486,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Meta Platforms in the second quarter valued at approximately $30,000. Sageworth Trust Co acquired a new stake in shares of Meta Platforms in the 1st quarter valued at $26,000. HBC Financial Services PLLC raised its position in shares of Meta Platforms by 2,500.0% during the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after acquiring an additional 125 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Meta Platforms during the second quarter valued at $45,000. Finally, V Square Quantitative Management LLC bought a new position in Meta Platforms in the second quarter valued at about $48,000. Institutional investors and hedge funds own 62.87% of the company’s stock.
In other news, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $288.45, for a total transaction of $193,261.50. Following the completion of the transaction, the insider now directly owns 39,020 shares in the company, valued at approximately $11,255,319. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $288.45, for a total transaction of $193,261.50. Following the completion of the sale, the insider now owns 39,020 shares of the company’s stock, valued at approximately $11,255,319. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 10,642 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the transaction, the chief financial officer now owns 89,509 shares in the company, valued at $30,102,771.79. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 231,873 shares of company stock valued at $75,354,118. 13.75% of the stock is owned by company insiders.
Analysts Set New Price Targets
Meta Platforms Stock Down 0.8 %
NASDAQ META traded down $2.65 during trading hours on Tuesday, hitting $337.32. 2,203,084 shares of the company traded hands, compared to its average volume of 25,132,686. The stock has a market capitalization of $866.87 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 1.10 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $108.32 and a twelve month high of $341.87. The business’s 50-day moving average is $312.20 and its 200-day moving average is $293.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.57 and a current ratio of 2.57.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, beating the consensus estimate of $3.62 by $0.77. The company had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. Meta Platforms had a return on equity of 26.40% and a net margin of 23.42%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 14.18 earnings per share 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.
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