Samalin Investment Counsel LLC Sells 97 Shares of Meta Platforms, Inc. (NASDAQ:META)

Samalin Investment Counsel LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the social networking company’s stock after selling 97 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Meta Platforms were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Poehling Capital Management INC. raised its stake in Meta Platforms by 652.3% in the 1st quarter. Poehling Capital Management INC. now owns 6,146 shares of the social networking company’s stock worth $1,367,000 after acquiring an additional 5,329 shares during the last quarter. Harding Loevner LP raised its stake in Meta Platforms by 20.4% in the 1st quarter. Harding Loevner LP now owns 1,783,376 shares of the social networking company’s stock worth $350,726,000 after acquiring an additional 301,909 shares during the last quarter. Engineers Gate Manager LP raised its stake in Meta Platforms by 25.2% in the 1st quarter. Engineers Gate Manager LP now owns 7,690 shares of the social networking company’s stock worth $1,710,000 after acquiring an additional 1,548 shares during the last quarter. East Coast Asset Management LLC. raised its stake in Meta Platforms by 1.6% in the 1st quarter. East Coast Asset Management LLC. now owns 235,198 shares of the social networking company’s stock worth $52,299,000 after acquiring an additional 3,670 shares during the last quarter. Finally, United Capital Financial Advisers LLC raised its stake in Meta Platforms by 2.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 210,523 shares of the social networking company’s stock worth $46,812,000 after acquiring an additional 4,770 shares during the last quarter. Institutional investors and hedge funds own 61.70% of the company’s stock.

Meta Platforms Stock Up 4.4 %

Shares of NASDAQ:META opened at $169.15 on Friday. The company has a market cap of $454.60 billion, a P/E ratio of 14.01, a PEG ratio of 2.24 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 $167.95 and a 200 day moving average price of $173.81.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) 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 company had revenue of $28.82 billion for the quarter, compared to analyst estimates of $28.95 billion. During the same quarter in the previous year, the business posted $3.61 earnings per share. Meta Platforms’s revenue was down .9% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 9.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on META shares. Bank of America cut their price target on Meta Platforms from $233.00 to $218.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Cowen cut their price target on Meta Platforms from $300.00 to $275.00 and set an “outperform” rating for the company in a research note on Wednesday, July 13th. Credit Suisse Group cut their price target on Meta Platforms from $245.00 to $214.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Piper Sandler lowered their price objective on Meta Platforms from $220.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $255.00 price objective on shares of Meta Platforms in a report on Thursday, August 4th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.78.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $160.06, for a total transaction of $54,740.52. Following the completion of the sale, the insider now directly owns 22,980 shares of the company’s stock, valued at approximately $3,678,178.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $160.06, for a total transaction of $54,740.52. Following the completion of the sale, the insider now directly owns 22,980 shares of the company’s stock, valued at approximately $3,678,178.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 17,428 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were 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. In the last three months, insiders sold 48,276 shares of company stock valued at $8,576,396. Company insiders own 13.59% of the company’s stock.

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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