Fielder Capital Group LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Fielder Capital Group LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, Holdings Channel reports. The firm acquired 1,914 shares of the social networking company’s stock, valued at approximately $677,000.

Several other large investors also recently added to or reduced their stakes in META. Stone House Investment Management LLC grew its position in 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 worth $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the last quarter. PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% in the 3rd 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 in the last quarter. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at about $39,000. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction 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 owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 585 shares of the business’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 transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Insiders sold a total of 1,222,926 shares of company stock worth $597,174,351 over the last three months. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

META has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Raymond James cut their price objective on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada lowered their target price on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, Wolfe Research lowered their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Stock Performance

META traded up $2.56 during midday trading on Tuesday, reaching $468.24. The company had a trading volume of 13,344,708 shares, compared to its average volume of 18,297,990. The business has a 50-day moving average of $490.40 and a two-hundred day moving average of $410.65. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $230.27 and a 1 year high of $531.49. The company has a market cap of $1.19 trillion, a P/E ratio of 26.87, a P/E/G ratio of 1.18 and a beta of 1.21.

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

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.