Investment Management Corp VA ADV Invests $555,000 in Meta Platforms, Inc. (NASDAQ:META)

Investment Management Corp VA ADV bought a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 948 shares of the social networking company's stock, valued at approximately $555,000. Meta Platforms accounts for 0.5% of Investment Management Corp VA ADV's holdings, making the stock its 27th biggest holding.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on META shares. Susquehanna cut their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Rosenblatt Securities lifted their target price on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Guggenheim lifted their price target on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price target on Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the sale, the chief operating officer now owns 8,662 shares of the company's stock, valued at approximately $5,837,841.52. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were 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 $209,199,589.06. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,628 shares of company stock valued at $48,380,586. Insiders own 13.71% of the company's stock.

Meta Platforms Trading Up 1.9%

Shares of META stock traded up $11.81 on Tuesday, reaching $638.87. 4,121,899 shares of the stock were exchanged, compared to its average volume of 14,454,497. The stock has a market cap of $1.61 trillion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. 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 has a 50 day moving average of $575.66 and a two-hundred day moving average of $609.55. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm earned $4.71 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

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.