Capital A Wealth Management LLC Buys Shares of 529 Meta Platforms, Inc. (NASDAQ:META)

Capital A Wealth Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 529 shares of the social networking company's stock, valued at approximately $310,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC lifted its position in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP lifted its position in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after purchasing an additional 43,200 shares during the period. Brueske Advisory Services LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $459,000. Apollon Financial LLC lifted its position in Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after purchasing an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

META has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Raymond James reduced their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. UBS Group upped their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Susquehanna reduced their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total value of $329,824.50. Following the transaction, the insider now owns 30,740 shares of the company's stock, valued at $19,535,270. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,628 shares of company stock worth $34,826,386. 13.61% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.3%

Shares of Meta Platforms stock traded up $1.79 during trading on Thursday, hitting $645.37. The stock had a trading volume of 5,262,093 shares, compared to its average volume of 16,867,680. The firm's fifty day simple moving average is $577.74 and its 200-day simple moving average is $610.01. The stock has a market cap of $1.62 trillion, a PE ratio of 26.98, a PEG ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

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, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion during 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%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $4.71 EPS. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

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.