Argus Investors Counsel Inc. Has $2.88 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Argus Investors Counsel Inc. raised its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 4.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,933 shares of the social networking company’s stock after purchasing an additional 226 shares during the quarter. Meta Platforms makes up 1.8% of Argus Investors Counsel Inc.’s holdings, making the stock its 12th largest position. Argus Investors Counsel Inc.’s holdings in Meta Platforms were worth $2,881,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Keb Asset Management LLC grew its position in Meta Platforms by 1.9% in the first quarter. Keb Asset Management LLC now owns 4,646 shares of the social networking company’s stock worth $2,256,000 after acquiring an additional 86 shares in the last quarter. IFG Advisors LLC boosted its holdings in shares of Meta Platforms by 1.3% during the 1st quarter. IFG Advisors LLC now owns 1,913 shares of the social networking company’s stock worth $929,000 after buying an additional 25 shares during the period. IMA Wealth Inc. boosted its holdings in shares of Meta Platforms by 21.0% during the 1st quarter. IMA Wealth Inc. now owns 11,457 shares of the social networking company’s stock worth $5,563,000 after buying an additional 1,988 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Meta Platforms by 8.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 279,267 shares of the social networking company’s stock worth $135,606,000 after buying an additional 22,647 shares during the period. Finally, Elite Wealth Management Inc. boosted its holdings in Meta Platforms by 53.0% in the 1st quarter. Elite Wealth Management Inc. now owns 23,755 shares of the social networking company’s stock valued at $11,535,000 after purchasing an additional 8,231 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Canaccord Genuity Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Monness Crespi & Hardt increased their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Check Out Our Latest Stock Report on META

Meta Platforms Price Performance

Shares of NASDAQ META traded down $2.00 during trading on Thursday, reaching $465.78. The company had a trading volume of 11,731,512 shares, compared to its average volume of 17,531,096. Meta Platforms, Inc. has a 52 week low of $244.95 and a 52 week high of $531.49. The stock has a market cap of $1.18 trillion, a PE ratio of 26.75, a PEG ratio of 1.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s 50 day moving average price is $484.18 and its 200-day moving average price is $424.15.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 31,493 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $487.52, for a total transaction of $15,353,467.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 918,449 shares of company stock worth $454,175,035 in the last quarter. 13.71% of the stock is owned by company insiders.

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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