Focus Partners Advisor Solutions LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Focus Partners Advisor Solutions LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 71.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,677 shares of the social networking company's stock after buying an additional 11,578 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Meta Platforms were worth $16,206,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 3,523 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $701.10, for a total value of $2,469,975.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total value of $417,258.24. Following the completion of the transaction, the chief operating officer now directly owns 9,270 shares in the company, valued at approximately $6,361,815.60. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,169 shares of company stock worth $50,927,926 in the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 0.5%

Shares of META opened at $637.10 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.42 and a beta of 1.24. The stock has a 50 day moving average price of $572.72 and a 200 day moving average price of $607.81.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its 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. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Piper Sandler raised their price objective on Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Citigroup raised their price objective on Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Wednesday, April 30th. Monness Crespi & Hardt raised their price objective on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

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.

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