Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,047 shares of the social networking company’s stock after selling 26 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Meta Platforms were worth $725,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings 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 buying an additional 42 shares during the last quarter. PayPay Securities Corp boosted its stake in shares of Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after buying an additional 43 shares during the period. Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the 4th quarter valued at approximately $39,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.3 %

NASDAQ META opened at $471.08 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a one year low of $230.72 and a one year high of $531.49. The company has a 50-day simple moving average of $489.80 and a 200-day simple moving average of $412.20. The firm has a market capitalization of $1.19 trillion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21.

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

Insider Buying and Selling

In other news, 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 value of $45,601,669.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The disclosure for this sale can be found here. Insiders sold 1,223,416 shares of company stock valued at $597,392,856 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on META shares. Roth Mkm lifted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group lowered their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James cut their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Mizuho raised their target price on Meta Platforms from $470.00 to $575.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Company 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.