Taylor Hoffman Wealth Management Grows Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Taylor Hoffman Wealth Management raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,703 shares of the social networking company’s stock after purchasing an additional 155 shares during the quarter. Meta Platforms makes up about 3.3% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 3rd largest position. Taylor Hoffman Wealth Management’s holdings in Meta Platforms were worth $7,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stone House Investment Management LLC lifted its holdings in 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 worth $26,000 after buying an additional 75 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $39,000. Cranbrook Wealth Management LLC boosted its holdings in 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 acquiring an additional 45 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in 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 acquiring an additional 42 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Meta Platforms in the fourth quarter worth about $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on META shares. BNP Paribas started coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Susquehanna raised their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. BMO Capital Markets upped their target price on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Loop Capital reduced their price target on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company dropped their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $509.80.

Get Our Latest Research Report on META

Insider Buying and Selling at Meta Platforms

In related news, insider Nicholas Clegg sold 1,135 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the completion of the sale, the insider now directly owns 8,753 shares in the company, valued at approximately $4,130,103.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas Clegg sold 1,135 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $535,549.75. Following the sale, the insider now owns 8,753 shares of the company’s stock, valued at $4,130,103.05. 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 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $1.32 during midday trading on Friday, hitting $471.91. 10,807,289 shares of the company’s stock were exchanged, compared to its average volume of 20,906,852. Meta Platforms, Inc. has a 12 month low of $241.19 and a 12 month high of $531.49. The company’s 50 day moving average price is $486.26 and its 200 day moving average price is $419.79. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.20 trillion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

About Meta Platforms

(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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