Tanager Wealth Management LLP reduced its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,302 shares of the social networking company’s stock after selling 1,248 shares during the period. Meta Platforms accounts for approximately 0.5% of Tanager Wealth Management LLP’s portfolio, making the stock its 29th largest holding. Tanager Wealth Management LLP’s holdings in Meta Platforms were worth $2,383,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkeley Capital Partners LLC raised its stake in Meta Platforms by 6.5% in the 2nd quarter. Berkeley Capital Partners LLC now owns 1,694 shares of the social networking company’s stock valued at $486,000 after acquiring an additional 103 shares during the period. Advisors Capital Management LLC raised its stake in Meta Platforms by 22.7% in the 2nd quarter. Advisors Capital Management LLC now owns 6,442 shares of the social networking company’s stock valued at $1,849,000 after acquiring an additional 1,190 shares during the period. Great Lakes Retirement Inc. bought a new stake in Meta Platforms in the 2nd quarter valued at about $1,654,000. Hartline Investment Corp raised its stake in Meta Platforms by 5.9% in the 2nd quarter. Hartline Investment Corp now owns 3,161 shares of the social networking company’s stock valued at $907,000 after acquiring an additional 175 shares during the period. Finally, Forbes J M & Co. LLP bought a new stake in shares of Meta Platforms during the second quarter valued at about $3,208,000. 62.87% of the stock is currently owned by institutional investors.
Meta Platforms Trading Up 2.6 %
Shares of NASDAQ:META opened at $295.91 on Friday. The business’s 50-day moving average is $303.27 and its 200 day moving average is $281.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market capitalization of $761.42 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.01 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $88.09 and a 1 year high of $330.54.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. The firm had revenue of $34.15 billion for the quarter, compared to the consensus estimate of $33.58 billion. Meta Platforms had a return on equity of 27.15% and a net margin of 23.42%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 13.89 earnings per share for the current fiscal year.
Insider Activity
In other Meta Platforms news, insider Jennifer Newstead sold 670 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $319.25, for a total transaction of $213,897.50. Following the completion of the sale, the insider now owns 35,000 shares of the company’s stock, valued at $11,173,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Nicholas Clegg sold 2,146 shares of Meta Platforms stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total transaction of $657,083.74. Following the completion of the sale, the insider now directly owns 12,631 shares of the company’s stock, valued at approximately $3,867,485.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 670 shares of Meta Platforms stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $319.25, for a total value of $213,897.50. Following the sale, the insider now owns 35,000 shares in the company, valued at approximately $11,173,750. The disclosure for this sale can be found here. Insiders have sold a total of 40,867 shares of company stock worth $12,458,522 over the last quarter. 13.75% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on META shares. Sanford C. Bernstein upped their price target on Meta Platforms from $350.00 to $375.00 in a research report on Thursday, July 27th. Jefferies Financial Group upped their price objective on shares of Meta Platforms from $360.00 to $400.00 in a research report on Thursday, July 27th. Susquehanna upped their price objective on shares of Meta Platforms from $310.00 to $400.00 in a research report on Thursday, July 27th. Loop Capital upped their price objective on shares of Meta Platforms from $365.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Bank of America upped their price objective on shares of Meta Platforms from $350.00 to $375.00 in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.77.
Get Our Latest Stock Analysis on Meta Platforms
Meta Platforms Profile
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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