Total Wealth Planning & Management Inc. Takes $1.31 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Total Wealth Planning & Management Inc. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,228 shares of the social networking company's stock, valued at approximately $1,305,000. Meta Platforms makes up approximately 1.2% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META traded up $1.26 on Wednesday, hitting $643.58. 8,878,338 shares of the company's stock traded hands, compared to its average volume of 14,470,527. The company's 50 day simple moving average is $576.79 and its 200-day simple moving average is $609.77. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $4.71 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the completion of the sale, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,628 shares of company stock valued at $48,380,586 in the last quarter. 13.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price objective on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Moffett Nathanson increased their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Susquehanna dropped their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, TD Securities dropped their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

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.