Fourth Dimension Wealth LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Fourth Dimension Wealth LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,262 shares of the social networking company's stock, valued at approximately $1,324,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC raised its stake in Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. raised its stake in Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after purchasing an additional 897 shares in the last quarter. Suvretta Capital Management LLC raised its stake in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP raised its stake in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares in the last quarter. Finally, Brueske Advisory Services LLC acquired a new stake in Meta Platforms in the 4th quarter worth about $459,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Up 0.2%

Shares of NASDAQ META opened at $636.57 on Friday. The company has a market capitalization of $1.60 trillion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company's 50 day moving average price is $573.91 and its 200-day moving average price is $608.53.

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, topping analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. The trade was a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,157 shares of company stock worth $49,411,000. Company insiders own 13.71% of the company's stock.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Cantor Fitzgerald raised their target price 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. BMO Capital Markets raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Susquehanna decreased their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Piper Sandler raised their target price on shares of Meta Platforms from $610.00 to $650.00 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 given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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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