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

Integrated Advisors Network LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 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 period. Meta Platforms makes up approximately 0.6% of Integrated Advisors Network LLC's portfolio, making the stock its 28th biggest position. Integrated Advisors Network LLC's holdings in Meta Platforms were worth $13,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its holdings in Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after buying an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after buying an additional 1,049,121 shares during the period. Capital World Investors raised its holdings in Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after buying an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new stake in Meta Platforms in the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Javier Olivan sold 406 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on 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 sale, the chief technology officer now owns 1,183 shares of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,628 shares of company stock valued at $48,380,586. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock traded up $1.26 during trading hours on Wednesday, hitting $643.58. The stock had a trading volume of 8,867,678 shares, compared to its average volume of 14,452,485. The firm has a market capitalization of $1.62 trillion, a PE ratio of 26.91, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The stock's 50 day moving average is $576.79 and its 200 day moving average is $609.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.71 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on META. TD Securities dropped their target price on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Citigroup boosted their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Guggenheim boosted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, DA Davidson cut their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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 issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.

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.