LGL Partners LLC Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

LGL Partners LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,814 shares of the social networking company’s stock after selling 49 shares during the quarter. LGL Partners LLC’s holdings in Meta Platforms were worth $1,419,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Union Savings Bank boosted its position in shares of Meta Platforms by 25.9% in the second quarter. Union Savings Bank now owns 2,145 shares of the social networking company’s stock worth $1,082,000 after purchasing an additional 441 shares during the period. OAKMONT Corp bought a new position in Meta Platforms in the 2nd quarter worth $5,834,000. LCM Capital Management Inc lifted its position in shares of Meta Platforms by 3.9% in the second quarter. LCM Capital Management Inc now owns 2,473 shares of the social networking company’s stock valued at $1,247,000 after acquiring an additional 92 shares in the last quarter. Hilltop Partners LLC lifted its holdings in Meta Platforms by 24.7% in the 2nd quarter. Hilltop Partners LLC now owns 3,165 shares of the social networking company’s stock worth $1,596,000 after purchasing an additional 627 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in Meta Platforms by 7.8% during the 2nd quarter. Financial Counselors Inc. now owns 119,363 shares of the social networking company’s stock valued at $60,185,000 after buying an additional 8,634 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total transaction of $452,500.00. Following the completion of the sale, the insider now owns 40,560 shares in the company, valued at $20,280,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total transaction of $452,500.00. Following the completion of the sale, the insider now directly owns 40,560 shares of the company’s stock, valued at $20,280,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 390,072 shares of company stock worth $201,913,948. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ META opened at $512.74 on Thursday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $505.31 and a two-hundred day simple moving average of $493.77. The firm has a market cap of $1.30 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $3.23 earnings per share. Analysts expect that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday. Loop Capital boosted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms 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.