Mather Group LLC. Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mather Group LLC. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,824 shares of the social networking company’s stock after buying an additional 868 shares during the period. Mather Group LLC.’s holdings in Meta Platforms were worth $2,185,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Meta Platforms by 1.2% during the 4th quarter. BlackRock Inc. now owns 158,101,319 shares of the social networking company’s stock worth $53,177,378,000 after buying an additional 1,909,538 shares in the last quarter. State Street Corp boosted its holdings in shares of Meta Platforms by 2.0% during the 4th quarter. State Street Corp now owns 94,303,590 shares of the social networking company’s stock worth $31,719,012,000 after purchasing an additional 1,887,737 shares during the last quarter. Capital International Investors boosted its holdings in shares of Meta Platforms by 5.9% during the 4th 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. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 40,627,257 shares of the social networking company’s stock worth $13,629,910,000 after purchasing an additional 950,662 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $9,595,113,000. 61.70% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 1.0 %

Shares of NASDAQ:META opened at $162.06 on Friday. The company has a market cap of $435.54 billion, a P/E ratio of 13.43, a PEG ratio of 2.13 and a beta of 1.30. Meta Platforms, Inc. has a 52 week low of $154.25 and a 52 week high of $383.79. The company has a 50-day moving average price of $168.66 and a 200 day moving average price of $174.33.

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

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total value of $54,077.04. Following the completion of the transaction, the insider now directly owns 18,089 shares of the company’s stock, valued at $2,860,232.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $158.12, for a total value of $54,077.04. Following the completion of the transaction, the insider now directly owns 18,089 shares of the company’s stock, valued at $2,860,232.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 17,428 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $176.48, for a total transaction of $3,075,693.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,934 shares of company stock valued at $8,521,656. Corporate insiders own 13.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Piper Sandler lowered their target price on Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. MKM Partners decreased their price objective on Meta Platforms from $295.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. DZ Bank cut Meta Platforms from a “hold” rating to a “sell” rating and set a $140.00 price objective on the stock. in a report on Tuesday, August 2nd. Finally, Oppenheimer decreased their price objective on Meta Platforms from $305.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. 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 stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $254.78.

Meta Platforms 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.

Further Reading

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

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