Wealthcare Advisory Partners LLC Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Wealthcare Advisory Partners LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,798 shares of the social networking company’s stock after buying an additional 1,975 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Meta Platforms were worth $4,176,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Stone House Investment Management LLC grew its position in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its position in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the period. PayPay Securities Corp grew its position in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC grew its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada lowered their price target on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Bank of America boosted their price target on Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Sanford C. Bernstein lowered their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, BMO Capital Markets boosted their price objective on Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Stock Performance

META stock traded up $13.72 on Monday, reaching $465.68. The company’s stock had a trading volume of 15,071,031 shares, compared to its average volume of 18,354,510. Meta Platforms, Inc. has a 52 week low of $230.27 and a 52 week high of $531.49. The company has a market capitalization of $1.18 trillion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. The firm has a fifty day moving average of $490.72 and a two-hundred day moving average of $409.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total value of $15,737,772.96. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock valued at $613,168,252 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.