Delta Investment Management LLC Acquires 496 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delta Investment Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 23.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,637 shares of the social networking company's stock after purchasing an additional 496 shares during the quarter. Delta Investment Management LLC's holdings in Meta Platforms were worth $1,544,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

META has been the topic of several recent research reports. Barclays cut their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Scotiabank lowered their price objective on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. Loop Capital upped their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, May 1st. One 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 stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Trading Up 0.0%

Shares of META stock opened at $640.43 on Tuesday. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The company's fifty day simple moving average is $571.79 and its two-hundred day simple moving average is $607.61. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. 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 (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity

In related news, COO Javier Olivan sold 2,615 shares of the business'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 $1,724,226.40. Following the completion of the transaction, the chief operating officer now directly owns 5,437 shares in the company, valued at $3,584,940.32. The trade was a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the transaction, the insider now owns 34,866 shares in the company, valued at $23,212,039.50. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,837 shares of company stock worth $64,758,661. 13.71% of the stock is owned by company insiders.

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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