AlphaCore Capital LLC Buys 456 Shares of Meta Platforms, Inc. (NASDAQ:META)

AlphaCore Capital LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,858 shares of the social networking company's stock after purchasing an additional 456 shares during the period. AlphaCore Capital LLC's holdings in Meta Platforms were worth $2,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in META. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors increased its holdings in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was 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 represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the sale, the insider now directly owns 30,740 shares of the company's stock, valued at $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,157 shares of company stock valued at $49,411,000. Insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 1.5%

META stock traded down $9.51 during trading on Friday, reaching $627.06. 8,442,469 shares of the stock were exchanged, compared to its average volume of 14,494,704. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. 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, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The business has a 50 day moving average price of $574.80 and a 200-day moving average price of $609.28.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data 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. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the business earned $4.71 EPS. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Royal Bank of Canada restated an "outperform" rating and issued a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. Loop Capital upped their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Pivotal Research reduced their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Susquehanna dropped their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. One equities research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

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.