Lakeshore Capital Group Inc. Invests $1.53 Million in Meta Platforms, Inc. (NASDAQ:META)

Lakeshore Capital Group Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,606 shares of the social networking company's stock, valued at approximately $1,526,000. Meta Platforms comprises approximately 2.3% of Lakeshore Capital Group Inc.'s holdings, making the stock its 11th biggest holding.

Other hedge funds also recently modified their holdings of the company. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC lifted its position in shares of Meta Platforms by 0.5% during 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 during the period. Seelaus Asset Management LLC lifted its position in shares of 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 acquiring an additional 15 shares during the period. Meredith Wealth Planning lifted its position in shares of 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 acquiring an additional 15 shares during the period. Finally, Maiden Cove Capital LLC lifted its position in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $644.00, for a total transaction of $593,124.00. Following the completion of the sale, the insider now owns 33,945 shares of the company's stock, valued at $21,860,580. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company's stock, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,628 shares of company stock valued at $48,380,586. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the topic of several research reports. Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. DA Davidson reduced 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 note on Monday, April 14th. Bank of America increased their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One equities research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Stock Up 2.4%

Meta Platforms stock traded up $15.26 during mid-day trading on Tuesday, reaching $642.32. The stock had a trading volume of 9,473,309 shares, compared to its average volume of 14,474,756. The company has a market capitalization 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 50-day moving average price of $575.66 and a two-hundred day moving average price of $609.55. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. 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 issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 EPS. Meta Platforms's revenue was up 16.1% on a year-over-year basis. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal 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.