Breakthru Advisory Services LLC Invests $824,000 in Meta Platforms, Inc. (NASDAQ:META)

Breakthru Advisory Services LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,408 shares of the social networking company's stock, valued at approximately $824,000. Meta Platforms accounts for about 0.7% of Breakthru Advisory Services LLC's investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $686.28, for a total value of $417,258.24. Following the completion of the sale, the chief operating officer now directly owns 9,270 shares in the company, valued at $6,361,815.60. This trade represents a 6.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the company'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 transaction, the insider now directly owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,157 shares of company stock worth $49,411,000. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 0.2%

Shares of NASDAQ META opened at $636.57 on Friday. The company's 50 day moving average price is $573.91 and its 200-day moving average price is $608.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a market capitalization of $1.60 trillion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results 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. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.71 earnings per share. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on META. Stifel Nicolaus increased their price target 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. Guggenheim upped their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Mizuho lifted their target price on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Bank of America raised their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.

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