Berbice Capital Management LLC Has $10.76 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

0
2

[ad_1]

Berbice Capital Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,675 shares of the social networking company’s stock after acquiring an additional 770 shares during the quarter. Meta Platforms makes up about 9.3% of Berbice Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Berbice Capital Management LLC’s holdings in Meta Platforms were worth $10,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC boosted its stake in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company’s stock valued at $129,666,000 after purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE raised its holdings in Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company’s stock valued at $3,624,000 after acquiring an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms in the 4th quarter valued at $2,243,603,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on META. Guggenheim lifted their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. DA Davidson dropped their price objective on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lifted their price objective on Meta Platforms from $735.00 to $795.00 and gave the company an “overweight” rating in a report on Friday, July 11th. UBS Group reaffirmed a “buy” rating and issued a $812.00 price objective (up from $683.00) on shares of Meta Platforms in a report on Thursday, June 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $732.67.

Want More Great Investing Ideas?

View Our Latest Report on META

Meta Platforms Stock Down 1.1%

Shares of Meta Platforms stock opened at $702.91 on Thursday. The stock’s 50-day moving average is $681.78 and its 200 day moving average is $636.39. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $747.90. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The company’s revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer owned 118,279 shares of the company’s stock, valued at $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,780 shares of company stock valued at $105,009,697. Insiders own 13.61% of the company’s stock.

About Meta Platforms

(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.

Recommended Stories

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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



Receive News & Ratings for Meta Platforms Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Meta Platforms and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here