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 – Free Report) by 3.7% during the second quarter, HoldingsChannel.com reports. The firm owned 3,540 shares of the social networking company’s stock after purchasing an additional 127 shares during the period. Meta Platforms makes up 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 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 in the last quarter. Capital World Investors boosted its stake in Meta Platforms by 0.6% in the first 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 in the last quarter. Capital Research Global Investors raised its stake in Meta Platforms by 14.5% in the first 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 shares.

The Wall Street analyst weighs in

A number of equities research analysts have 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 price target 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 boosted 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 upped 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 target price 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.

See the latest stock analysis on META

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 on the SEC’s website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’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’s website. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated 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. Over the last 90 days, insiders have sold 388,078 shares of company stock worth $200,792,168. 13.71% of shares are currently owned by company insiders.

Meta platform trading up 0.6%

Shares of META opened at $521.31 on Friday. The firm has a market cap 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 – Get Your Free Report ) last posted its quarterly earnings data on Wednesday, July 31st. The social media 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 company’s quarterly revenue was up 22.1% year over year. In the same quarter last year, the company posted EPS of $3.23. Sell-side analysts estimate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

About Meta Platforms

(Free report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.

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