Bard Financial Services Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 26.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,075 shares of the social networking company’s stock after selling 7,555 shares during the quarter. Bard Financial Services Inc.’s holdings in Meta Platforms were worth $6,048,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Ruedi Wealth Management Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $25,000. Worth Asset Management LLC increased its holdings in shares of Meta Platforms by 248.6% in the first quarter. Worth Asset Management LLC now owns 122 shares of the social networking company’s stock worth $26,000 after purchasing an additional 87 shares during the period. Sageworth Trust Co purchased a new position in shares of Meta Platforms during the first quarter worth about $26,000. MBM Wealth Consultants LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $26,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Meta Platforms during the 4th quarter worth $27,000. 62.87% of the stock is currently owned by institutional investors.
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 8,032 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $2,459,318.08. Following the transaction, the chief technology officer now directly owns 11,588 shares of the company’s stock, valued at $3,548,129.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $3,258,780.17. Following the completion of the sale, the chief financial officer now owns 91,617 shares of the company’s stock, valued at $28,052,209.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,032 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $2,459,318.08. Following the completion of the sale, the chief technology officer now directly owns 11,588 shares of the company’s stock, valued at approximately $3,548,129.72. The disclosure for this sale can be found here. Insiders have sold 41,179 shares of company stock valued at $12,474,820 over the last ninety days. Insiders own 13.75% of the company’s stock.
Meta Platforms Stock Performance
Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, July 26th. The social networking company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.36. The business had revenue of $32 billion during the quarter, compared to analysts’ expectations of $30.91 billion. Meta Platforms had a net margin of 18.70% and a return on equity of 21.72%. As a group, analysts predict that Meta Platforms, Inc. will post 13.17 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on META. Evercore ISI raised their price objective on Meta Platforms from $350.00 to $435.00 in a report on Thursday, July 27th. UBS Group raised their target price on Meta Platforms from $335.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Credit Suisse Group boosted their price target on Meta Platforms from $361.00 to $407.00 in a report on Thursday, July 27th. JMP Securities lifted their price target on shares of Meta Platforms from $350.00 to $380.00 and gave the company a “market outperform” rating in a report on Thursday, July 27th. Finally, HSBC upgraded shares of Meta Platforms from a “reduce” rating to a “hold” rating and set a $285.00 price target on the stock in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $319.79.
Meta Platforms Company 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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