Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Integrated Advisors Network LLC

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

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

Analyst Ratings Changes

META has been the subject of several research analyst reports. Mizuho increased their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Wedbush raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $740.00 price target on shares of Meta Platforms in a research note on Thursday, May 1st. Roth Capital increased their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, UBS Group lifted their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Performance

Shares of META stock traded up $15.26 during midday trading on Tuesday, hitting $642.32. The company had a trading volume of 9,473,309 shares, compared to its average volume of 14,474,756. The stock has a market cap of $1.62 trillion, a price-to-earnings ratio of 26.85, a PEG 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. The company's 50 day simple moving average is $575.66 and its 200 day simple moving average is $609.55. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $740.91.

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 for the quarter, topping 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 firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the company earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 $19,535,270. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,628 shares of company stock worth $48,380,586. Company insiders own 13.71% of the company's stock.

About Meta Platforms

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.