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

AAF Wealth Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,747 shares of the social networking company's stock after acquiring an additional 407 shares during the quarter. Meta Platforms accounts for about 0.8% of AAF Wealth Management LLC's holdings, making the stock its 16th biggest holding. AAF Wealth Management LLC's holdings in Meta Platforms were worth $1,609,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the fourth quarter worth about $47,000. Finally, Conquis Financial LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on META. Robert W. Baird boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald upped their price target on Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Piper Sandler lifted their price target on Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. UBS Group increased their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares of the company's stock, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,628 shares of company stock valued at $48,380,586. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

META stock traded up $9.56 during midday trading on Tuesday, hitting $636.62. 3,706,833 shares of the stock traded hands, compared to its average volume of 14,452,381. The stock's fifty day simple moving average is $575.66 and its 200-day simple moving average is $609.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The firm has a market cap of $1.60 trillion, a P/E ratio of 26.62, a PEG ratio of 1.42 and a beta of 1.24.

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

About Meta Platforms

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.