Beaumont Financial Partners LLC Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Beaumont Financial Partners LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,168 shares of the social networking company’s stock after buying an additional 1,130 shares during the quarter. Meta Platforms comprises 1.1% of Beaumont Financial Partners LLC’s holdings, making the stock its 26th largest position. Beaumont Financial Partners LLC’s holdings in Meta Platforms were worth $13,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Meta Platforms in the fourth quarter worth about $9,595,113,000. Dodge & Cox raised its stake in shares of Meta Platforms by 78.7% in the fourth quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock worth $2,238,518,000 after purchasing an additional 2,931,894 shares during the last quarter. Capital International Investors raised its stake in shares of Meta Platforms by 5.9% in the fourth quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock worth $17,413,576,000 after purchasing an additional 2,888,336 shares during the last quarter. HS Management Partners LLC raised its stake in shares of Meta Platforms by 463.7% in the fourth quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock worth $182,104,000 after purchasing an additional 2,325,382 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Meta Platforms by 65.9% in the first quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock worth $1,275,967,000 after purchasing an additional 2,278,994 shares during the last quarter. 65.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. Wedbush dropped their target price on Meta Platforms from $270.00 to $220.00 in a report on Thursday, April 28th. JMP Securities dropped their target price on Meta Platforms from $240.00 to $215.00 and set a “market outperform” rating on the stock in a report on Thursday, July 28th. Bank of America dropped their target price on Meta Platforms from $233.00 to $218.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft dropped their target price on Meta Platforms from $265.00 to $235.00 in a report on Thursday, July 21st. Finally, Jefferies Financial Group dropped their target price on Meta Platforms from $330.00 to $310.00 in a report on Tuesday, May 24th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.98.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 10,126 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $203.35, for a total transaction of $2,059,122.10. Following the completion of the transaction, the chief technology officer now directly owns 4,544 shares of the company’s stock, valued at approximately $924,022.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Andrew Bosworth sold 10,126 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $203.35, for a total transaction of $2,059,122.10. Following the completion of the transaction, the chief technology officer now directly owns 4,544 shares of the company’s stock, valued at approximately $924,022.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $158.12, for a total value of $54,077.04. Following the transaction, the insider now directly owns 18,089 shares of the company’s stock, valued at $2,860,232.68. The disclosure for this sale can be found here. Insiders sold 45,236 shares of company stock valued at $8,958,728 in the last three months. 13.59% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $3.46 during trading on Friday, reaching $167.11. The stock had a trading volume of 25,832,699 shares, compared to its average volume of 30,145,862. Meta Platforms, Inc. has a fifty-two week low of $154.25 and a fifty-two week high of $384.33. The business’s 50-day moving average price is $166.98 and its 200-day moving average price is $182.37. The company has a market cap of $449.12 billion, a P/E ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The firm had revenue of $28.82 billion during the quarter, compared to analyst estimates of $28.95 billion. During the same period in the previous year, the firm posted $3.61 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Meta Platforms, Inc. will post 9.58 EPS for the current fiscal year.

Meta Platforms Company Profile

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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