Drucker Wealth 3.0 LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Drucker Wealth 3.0 LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,486 shares of the social networking company's stock after acquiring an additional 463 shares during the period. Meta Platforms accounts for about 1.3% of Drucker Wealth 3.0 LLC's investment portfolio, making the stock its 21st largest holding. Drucker Wealth 3.0 LLC's holdings in Meta Platforms were worth $5,554,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Guggenheim upped their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Loop Capital increased their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Cantor Fitzgerald increased their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating 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 issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Stock Performance

Shares of META stock traded up $4.90 during trading hours on Wednesday, reaching $647.22. 4,479,525 shares of the company traded hands, compared to its average volume of 14,435,466. The firm has a 50-day moving average price of $576.79 and a 200 day moving average price of $609.77. The company has a market cap of $1.63 trillion, a P/E ratio of 27.03, a P/E/G 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 announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 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 business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the business earned $4.71 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at $2,744,547.96. This represents a 9.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the transaction, the chief technology officer now owns 16,463 shares of the company's stock, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,628 shares of company stock worth $48,380,586 in the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

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.