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

Delta Investment Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,637 shares of the social networking company's stock after acquiring an additional 496 shares during the quarter. Delta Investment Management LLC's holdings in Meta Platforms were worth $1,544,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in META. Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at about $19,949,512,000. Proficio Capital Partners LLC raised its position in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $2,243,603,000. Northern Trust Corp raised its position in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on META shares. Oppenheimer raised their price target on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wedbush raised their price target on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target 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. Loop Capital raised their price target on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Benchmark decreased their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Insider Activity

In related news, CTO Andrew Bosworth sold 5,057 shares of the business'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 $3,334,383.52. Following the sale, the chief technology officer now owns 16,463 shares in the company, valued at $10,855,043.68. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $686.28, for a total value of $417,258.24. Following the sale, the chief operating officer now owns 9,270 shares in the company, valued at $6,361,815.60. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,157 shares of company stock worth $49,411,000. Insiders own 13.71% of the company's stock.

Meta Platforms Price Performance

NASDAQ META traded down $9.51 during midday trading on Friday, hitting $627.06. The company had a trading volume of 8,442,469 shares, compared to its average volume of 14,484,811. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a 50-day moving average price of $574.80 and a 200-day moving average price of $608.90. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.58 trillion, a PE ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly 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. 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 quarter last year, the company posted $4.71 EPS. The company'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 fiscal year.

Meta Platforms 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.