IronOak Wealth LLC. purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,977 shares of the social networking company's stock, valued at approximately $3,500,000. Meta Platforms accounts for 3.9% of IronOak Wealth LLC.'s investment portfolio, making the stock its 3rd largest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley Financial Group Inc. grew its holdings in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC lifted its position in Meta Platforms by 0.5% in the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after acquiring an additional 14 shares in the last quarter. Seelaus Asset Management LLC boosted its stake in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning boosted its stake in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after purchasing an additional 15 shares during the last quarter. Finally, Maiden Cove Capital LLC increased its holdings in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company's stock.
Meta Platforms Stock Performance
Meta Platforms stock traded up $1.26 during mid-day trading on Wednesday, reaching $643.58. 8,878,338 shares of the company were exchanged, compared to its average volume of 14,470,527. The firm's 50-day simple moving average is $576.79 and its two-hundred day simple moving average is $609.77. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm has a market cap of $1.62 trillion, a PE ratio of 26.91, a price-to-earnings-growth 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 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. Equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Insider Transactions at Meta Platforms
In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the sale, the insider now directly owns 30,740 shares in the company, valued at $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. The trade was a 6.08% decrease in their position. 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 13.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on META shares. Cantor Fitzgerald upped their price target on Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Mizuho raised their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Bank of America raised their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $701.05.
Read Our Latest Stock Analysis on Meta Platforms
Meta Platforms Company Profile
(
Free Report)
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.
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