Mather Group LLC. Invests $1.14 Million in Meta Platforms, Inc. (NASDAQ:META)

Posted by Defense World Staff on Jun 18th, 2023

Mather Group LLC. bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,459 shares of the social networking company’s stock, valued at approximately $1,138,000.

Other large investors have also recently bought and sold shares of the company. Riverpoint Wealth Management Holdings LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at $25,000. Ruedi Wealth Management Inc. purchased a new position in shares of Meta Platforms during the fourth quarter worth about $25,000. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $26,000. NewSquare Capital LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at about $26,000. Finally, Arcadia Investment Management Corp MI purchased a new position in Meta Platforms during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 60.92% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 10,643 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $233.81, for a total transaction of $2,488,439.83. Following the transaction, the chief financial officer now directly owns 73,958 shares in the company, valued at approximately $17,292,119.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Susan J. Li sold 10,643 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $233.81, for a total transaction of $2,488,439.83. Following the completion of the sale, the chief financial officer now directly owns 73,958 shares in the company, valued at approximately $17,292,119.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 393 shares of Meta Platforms stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $200.00, for a total value of $78,600.00. Following the completion of the transaction, the insider now owns 30,153 shares in the company, valued at approximately $6,030,600. The disclosure for this sale can be found here. Insiders sold 38,749 shares of company stock worth $9,119,323 in the last 90 days. 13.75% of the stock is owned by company insiders.

Meta Platforms Stock Down 0.3 %

Shares of NASDAQ META opened at $281.00 on Friday. The firm has a market cap of $720.13 billion, a P/E ratio of 34.86, a price-to-earnings-growth ratio of 1.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.07 and a current ratio of 2.07. Meta Platforms, Inc. has a 1 year low of $88.09 and a 1 year high of $287.85. The firm’s 50 day moving average price is $242.94 and its 200 day moving average price is $188.26.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The social networking company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.68. The business had revenue of $28.65 billion for the quarter, compared to analysts’ expectations of $27.49 billion. Meta Platforms had a return on equity of 20.67% and a net margin of 18.27%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 11.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

META has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. New Street Research lowered shares of Meta Platforms from a “buy” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research note on Monday, April 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Meta Platforms from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Truist Financial raised their price target on Meta Platforms from $230.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, Loop Capital raised Meta Platforms from a “hold” rating to a “buy” rating and upped their price objective for the company from $220.00 to $320.00 in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.07.

Meta Platforms Company Profile

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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.