3,436 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Hall Capital Management Co. Inc.

Hall Capital Management Co. Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,436 shares of the social networking company's stock, valued at approximately $2,012,000.

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

Meta Platforms Stock Up 2.4%

Shares of META stock traded up $15.26 during trading on Tuesday, hitting $642.32. 9,473,309 shares of the company were exchanged, compared to its average volume of 14,474,756. The business's 50-day simple moving average is $575.66 and its 200 day simple moving average is $609.55. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.85, 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 quick ratio of 2.98 and a current ratio of 2.98.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on META. Cantor Fitzgerald increased their price target on Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Bank of America raised their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. KeyCorp boosted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Rosenblatt Securities boosted their target price on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Argus set a $775.00 price target on Meta Platforms in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the transaction, the insider now directly owns 30,740 shares of the company's stock, valued at $19,535,270. This represents a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,628 shares of company stock worth $48,380,586. 13.71% of the stock is 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.