Meta Platforms, Inc. (NASDAQ:META) Holdings Lifted by Ascent Group LLC

Ascent Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,351 shares of the social networking company's stock after purchasing an additional 3,939 shares during the quarter. Meta Platforms makes up 1.6% of Ascent Group LLC's portfolio, making the stock its 7th largest holding. Ascent Group LLC's holdings in Meta Platforms were worth $21,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth about $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $59,000. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the business's 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 completion of the sale, the chief technology officer now owns 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,628 shares of company stock valued at $48,380,586. Company insiders own 13.71% of the company's stock.

Meta Platforms Trading Up 2.4%

META traded up $15.26 during trading on Tuesday, reaching $642.32. 9,473,309 shares of the stock traded hands, compared to its average volume of 14,474,756. The stock's 50-day moving average is $575.66 and its 200 day moving average is $609.55. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market capitalization of $1.62 trillion, a PE ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

META has been the topic of a number of research reports. Oppenheimer boosted their price target on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Loop Capital boosted their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, UBS Group boosted their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price 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.