Carolinas Wealth Consulting LLC Sells 11,242 Shares of Meta Platforms, Inc. (NASDAQ:META)

Carolinas Wealth Consulting LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 74.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,864 shares of the social networking company's stock after selling 11,242 shares during the period. Carolinas Wealth Consulting LLC's holdings in Meta Platforms were worth $2,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. LifeWealth Investments LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $921,000. Capital A Wealth Management LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at about $310,000. Lakeshore Capital Group Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $1,526,000. Virtue Capital Management LLC boosted its holdings in shares of Meta Platforms by 10.7% during the 4th quarter. Virtue Capital Management LLC now owns 6,608 shares of the social networking company's stock worth $3,869,000 after buying an additional 637 shares during the period. Finally, Infinitum Asset Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $2,342,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. The Goldman Sachs Group lifted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Guggenheim upped their price objective on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a report on Thursday, May 1st. KeyCorp boosted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research report on Thursday, May 1st. One research 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 issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $701.05.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $673.96, for a total transaction of $409,767.68. Following the sale, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares in the company, valued at $13,525,441.26. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,628 shares of company stock worth $34,826,386 over the last ninety days. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 0.2%

Shares of Meta Platforms stock traded up $1.56 during trading on Thursday, hitting $645.14. The company's stock had a trading volume of 5,399,014 shares, compared to its average volume of 14,434,915. The stock 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 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 52 week low of $442.65 and a 52 week high of $740.91. The stock has a 50-day moving average price of $577.74 and a two-hundred day moving average price of $610.01.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for 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 business's revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.71 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

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.