1,057 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,057 shares of the social networking company's stock, valued at approximately $619,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC raised its position in Meta Platforms by 2.1% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Meta Platforms by 2.5% during the fourth 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 during the last quarter. Capital World Investors boosted its holdings in shares of Meta Platforms by 2.9% in the 4th 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 475 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $628.25, for a total transaction of $298,418.75. Following the sale, the director now directly owns 10,272 shares in the company, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total value of $409,767.68. Following the completion of the transaction, the chief operating officer now owns 8,662 shares of the company's stock, valued at $5,837,841.52. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,628 shares of company stock worth $34,826,386 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.3%

Shares of NASDAQ META traded up $2.05 on Thursday, reaching $645.63. 5,399,014 shares of the company's stock traded hands, compared to its average volume of 14,434,981. The business's 50 day simple moving average is $577.74 and its two-hundred day simple moving average is $610.01. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth 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 posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's revenue for the quarter 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, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Robert W. Baird upped their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Monness Crespi & Hardt boosted their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Bank of America upped their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target 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.