Meta Platforms, Inc. (NASDAQ:FB – Get Rating) – Analysts at Wedbush decreased their Q3 2022 earnings estimates for shares of Meta Platforms in a report issued on Thursday, April 28th. Wedbush analyst Y. Arounian now expects that the social networking company will earn $2.50 per share for the quarter, down from their previous estimate of $3.05. Wedbush also issued estimates for Meta Platforms’ Q4 2022 earnings at $2.71 EPS, FY2022 earnings at $10.73 EPS, Q1 2023 earnings at $2.97 EPS, Q2 2023 earnings at $3.22 EPS, Q3 2023 earnings at $2.73 EPS, Q4 2023 earnings at $3.19 EPS and FY2023 earnings at $12.11 EPS.
Meta Platforms (NASDAQ:FB – Get Rating) last released its earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.25%. During the same period in the previous year, the firm posted $3.30 earnings per share.
FB stock opened at $200.47 on Monday. Meta Platforms has a one year low of $169.00 and a one year high of $384.33. The stock has a market capitalization of $545.67 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.39. The company has a fifty day moving average of $207.76 and a 200-day moving average of $276.78.
In other Meta Platforms news, CAO Susan J.S. Taylor sold 2,272 shares of the business’s stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $214.00, for a total transaction of $486,208.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 125 shares of the business’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $314.46, for a total transaction of $39,307.50. The disclosure for this sale can be found here. Insiders sold 8,081 shares of company stock worth $1,731,333 over the last ninety days. 13.59% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Widmann Financial Services Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth about $100,000. Steigerwald Gordon & Koch Inc. grew its position in Meta Platforms by 4.1% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,012 shares of the social networking company’s stock valued at $677,000 after buying an additional 80 shares in the last quarter. Evergreen Capital Management LLC grew its position in Meta Platforms by 6.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 40,602 shares of the social networking company’s stock valued at $13,780,000 after buying an additional 2,357 shares in the last quarter. Colony Group LLC grew its position in Meta Platforms by 13.7% in the 3rd quarter. Colony Group LLC now owns 27,256 shares of the social networking company’s stock valued at $9,250,000 after buying an additional 3,287 shares in the last quarter. Finally, Cordatus Wealth Management LLC bought a new position in Meta Platforms in the 3rd quarter valued at about $2,921,000. Institutional investors and hedge funds own 65.64% of the company’s stock.
About Meta Platforms (Get Rating)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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