Lincoln National Corp Buys 3,407 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lincoln National Corp boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 12.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 31,900 shares of the social networking company’s stock after buying an additional 3,407 shares during the quarter. Lincoln National Corp’s holdings in Meta Platforms were worth $7,093,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Landmark Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter worth $26,000. Disciplined Investments LLC grew its position in shares of Meta Platforms by 583.3% during the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Barnett & Company Inc. raised its stake in Meta Platforms by 105.0% during the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock valued at $28,000 after purchasing an additional 42 shares during the period. Rise Advisors LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $28,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms in the 4th quarter worth approximately $31,000. Institutional investors own 65.49% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CAO Susan J.S. Taylor sold 1,420 shares of Meta Platforms stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $202.16, for a total transaction of $287,067.20. Following the transaction, the chief accounting officer now owns 1,605 shares in the company, valued at approximately $324,466.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the completion of the sale, the insider now owns 12,187 shares of the company’s stock, valued at $2,432,525.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Susan J.S. Taylor sold 1,420 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $202.16, for a total value of $287,067.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,605 shares in the company, valued at approximately $324,466.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,236 shares of company stock valued at $8,958,728. 13.59% of the stock is currently owned by insiders.

Meta Platforms Trading Down 1.7 %

META stock traded down $2.91 during midday trading on Friday, reaching $167.66. The stock had a trading volume of 585,777 shares, compared to its average volume of 33,813,188. Meta Platforms, Inc. has a 52-week low of $154.25 and a 52-week high of $384.33. The company has a market cap of $453.74 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.24 and a beta of 1.32. The company’s fifty day simple moving average is $166.69 and its 200 day simple moving average is $182.90.

Meta Platforms (NASDAQ:METAGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The business had revenue of $28.82 billion for the quarter, compared to analysts’ expectations of $28.95 billion. During the same period in the prior year, the company posted $3.61 EPS. The firm’s revenue was down .9% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 9.58 EPS for the current year.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Meta Platforms from $270.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Truist Financial cut their price objective on Meta Platforms from $320.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. JPMorgan Chase & Co. decreased their target price on Meta Platforms from $275.00 to $225.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Atlantic Securities set a $215.00 price target on Meta Platforms in a report on Tuesday, July 19th. Finally, Evercore ISI decreased their price objective on Meta Platforms from $280.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.98.

About Meta Platforms

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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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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