BIP Alliance LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

BIP Alliance LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,288 shares of the social networking company's stock, valued at approximately $754,000. Meta Platforms makes up approximately 0.3% of BIP Alliance LLC's investment portfolio, making the stock its 25th biggest holding.

Several other large investors have also recently bought and sold shares of META. Vanguard Group Inc. raised its position 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 worth $111,948,344,000 after buying an additional 1,502,553 shares in the last quarter. Geode Capital Management LLC grew 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 worth $28,719,970,000 after buying an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Meta Platforms by 2.5% in 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 acquiring an additional 1,049,121 shares during the last quarter. Capital World Investors raised 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 valued at $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Meta Platforms in the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on META. Wells Fargo & Company cut their price objective on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Oppenheimer lifted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Guggenheim boosted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Truist Financial raised their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, DA Davidson dropped their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Stock Performance

Shares of META stock opened at $636.57 on Friday. The company has a market capitalization of $1.60 trillion, a P/E ratio of 26.61, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50 day moving average price of $573.91 and a two-hundred day moving average price of $608.53.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping 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 net margin of 37.91% and a return on equity of 38.17%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the transaction, the chief operating officer now directly owns 9,270 shares of the company's stock, valued at approximately $6,361,815.60. The trade was a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares of the company's stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,157 shares of company stock valued at $49,411,000. Insiders own 13.71% of the company's stock.

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.

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