Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Wallington Asset Management LLC

Wallington Asset Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,817 shares of the social networking company’s stock after purchasing an additional 348 shares during the quarter. Wallington Asset Management LLC’s holdings in Meta Platforms were worth $8,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MBM Wealth Consultants LLC acquired a new stake in Meta Platforms during the fourth quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in Meta Platforms during the second quarter worth $30,000. Stephens Investment Management Group LLC acquired a new stake in Meta Platforms during the second quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Meta Platforms during the third quarter worth $40,000. Finally, Red Tortoise LLC increased its stake in Meta Platforms by 32.2% during the first quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock worth $40,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Stock Up 1.3 %

Shares of META stock opened at $374.49 on Friday. The firm has a fifty day moving average of $340.18 and a 200-day moving average of $315.91. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.13. Meta Platforms, Inc. has a 12-month low of $132.14 and a 12-month high of $377.06. The company has a market capitalization of $962.39 billion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 0.98 and a beta of 1.22.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, October 25th. The social networking company reported $4.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77. The business had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 14.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Roth Mkm raised their target price on Meta Platforms from $360.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Wells Fargo & Company raised their target price on Meta Platforms from $372.00 to $380.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Oppenheimer reissued an “outperform” rating and set a $385.00 target price on shares of Meta Platforms in a research note on Thursday, September 28th. Piper Sandler lowered their price target on Meta Platforms from $365.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Finally, Tigress Financial raised their price target on Meta Platforms from $380.00 to $435.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $358.07.

View Our Latest Analysis on META

Insider Activity

In other news, CEO Mark Zuckerberg sold 28,009 shares of Meta Platforms stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $310.60, for a total value of $8,699,595.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $356.40, for a total transaction of $201,722.40. Following the completion of the sale, the insider now owns 36,418 shares in the company, valued at approximately $12,979,375.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 28,009 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $310.60, for a total transaction of $8,699,595.40. The disclosure for this sale can be found here. Insiders sold a total of 744,978 shares of company stock valued at $250,659,740 in the last quarter. Company insiders own 13.75% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

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

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