Blue Chip Partners LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 817 shares of the social networking company’s stock after selling 51 shares during the quarter. Blue Chip Partners LLC’s holdings in Meta Platforms were worth $412,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Meta Platforms during the fourth quarter worth $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the completion of the transaction, the insider now directly owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total value of $431,685.00. Following the sale, the insider now directly owns 41,465 shares in the company, valued at $19,778,805. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 388,078 shares of company stock valued at $200,792,168. 13.71% of the stock is owned by company insiders.
Analyst Ratings Changes
View Our Latest Stock Analysis on Meta Platforms
Meta Platforms Stock Up 0.2 %
NASDAQ:META traded up $1.12 during mid-day trading on Friday, hitting $519.34. 4,832,976 shares of the company’s stock were exchanged, compared to its average volume of 15,964,676. The business has a fifty day moving average price of $504.32 and a 200 day moving average price of $492.38. The company has a market cap of $1.32 trillion, a PE ratio of 29.85, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.23 earnings per share. Equities analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.
About Meta Platforms
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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