Integrated Advisors Network LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Integrated Advisors Network LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,121 shares of the social networking company's stock after selling 434 shares during the quarter. Meta Platforms accounts for approximately 0.6% of Integrated Advisors Network LLC's investment portfolio, making the stock its 28th largest position. Integrated Advisors Network LLC's holdings in Meta Platforms were worth $13,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the sale, the director now owns 10,272 shares of the company's stock, valued at approximately $6,453,384. This trade represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms 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 completion of the sale, the insider now directly owns 30,740 shares of the company's stock, valued at approximately $19,535,270. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,628 shares of company stock worth $34,826,386 in the last ninety days. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on META. Piper Sandler upped their price objective on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $740.00 price objective on shares of Meta Platforms in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. BMO Capital Markets upped their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Finally, DA Davidson decreased their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Up 0.2%

NASDAQ:META traded up $1.41 during trading hours on Thursday, hitting $644.99. 5,580,153 shares of the company traded hands, compared to its average volume of 14,435,842. The company has a market cap of $1.62 trillion, a PE ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm's 50-day simple moving average is $577.74 and its 200-day simple moving average is $610.01.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for 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 business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.71 EPS. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Company 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.