Private Wealth Management Group LLC Makes New $174,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

Private Wealth Management Group LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 491 shares of the social networking company’s stock, valued at approximately $174,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Stone House Investment Management LLC grew its stake in shares of Meta Platforms by 625.0% during 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. Gilfoyle & Co LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $39,000. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% during the 4th 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. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% during the 3rd 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. Finally, DiNuzzo Private Wealth Inc. bought a new position in Meta Platforms in the 4th quarter worth $45,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

NASDAQ META traded down $1.32 during mid-day trading on Friday, reaching $471.91. 10,807,289 shares of the stock were exchanged, compared to its average volume of 20,906,852. Meta Platforms, Inc. has a 1 year low of $241.19 and a 1 year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business’s 50 day moving average is $486.26 and its 200-day moving average is $419.79. The company has a market capitalization of $1.20 trillion, a P/E ratio of 27.11, a P/E/G ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating 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 firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on META shares. JMP Securities restated a “market outperform” rating and issued a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Roth Mkm lifted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada dropped their target price on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Read Our Latest Stock Analysis on Meta Platforms

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $469.88, for a total transaction of $274,879.80. Following the completion of the transaction, the insider now owns 42,493 shares in the company, valued at approximately $19,966,610.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $469.88, for a total value of $274,879.80. Following the completion of the sale, the insider now directly owns 42,493 shares in the company, valued at $19,966,610.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,222 shares of company stock valued at $499,279,869 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

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.

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

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