Buckingham Strategic Wealth LLC grew its position in Meta Platforms Inc. (NASDAQ:FB) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 284,948 shares of the social networking company’s stock after purchasing an additional 9,190 shares during the period. Meta Platforms comprises approximately 2.0% of Buckingham Strategic Wealth LLC’s holdings, making the stock its 9th largest holding. Buckingham Strategic Wealth LLC’s holdings in Meta Platforms were worth $96,709,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Directions Investment Advisors LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $31,000. Carderock Capital Management Inc. bought a new position in Meta Platforms during the 3rd quarter worth $31,000. Benjamin Edwards Inc. bought a new position in shares of Meta Platforms in the third quarter worth $33,000. Lion Street Advisors LLC acquired a new stake in shares of Meta Platforms during the second quarter valued at about $43,000. Finally, Filbrandt Wealth Management LLC acquired a new position in shares of Meta Platforms in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 65.55% of the company’s stock.
In other Meta Platforms news, CEO Mark Zuckerberg sold 77,300 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $333.02, for a total transaction of $25,742,446.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 125 shares of the firm’s stock in a transaction dated Tuesday, October 19th. The shares were sold at an average price of $339.90, for a total value of $42,487.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 693,940 shares of company stock worth $230,432,836. 14.01% of the stock is owned by corporate insiders.
Meta Platforms (NASDAQ:FB) last announced its earnings results on Sunday, October 24th. The social networking company reported $3.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.19 by $0.03. Meta Platforms had a net margin of 35.88% and a return on equity of 30.22%. The business had revenue of $29.01 billion for the quarter, compared to analyst estimates of $29.52 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. Meta Platforms’s revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts expect that Meta Platforms Inc. will post 13.91 earnings per share for the current year.
A number of brokerages have recently commented on FB. Monness Crespi & Hardt dropped their price target on Meta Platforms from $500.00 to $460.00 and set a “buy” rating on the stock in a research report on Tuesday, October 26th. The Goldman Sachs Group set a $445.00 target price on Meta Platforms in a report on Tuesday, October 26th. Tigress Financial boosted their price objective on Meta Platforms from $430.00 to $466.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 13th. Morgan Stanley dropped their target price on Meta Platforms from $400.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, October 26th. Finally, Truist lowered their target price on Meta Platforms from $425.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, October 26th. Eight analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $398.21.
About Meta Platforms
Meta Platforms, Inc, (formerly known as Facebook, Inc) operates as a global social technology company. The company engages in the development of social media applications as well as virtual and augmented reality products allowing users to connect through mobile devices, personal computers and other platforms.
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