LifeWealth Investments LLC Makes New $921,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

LifeWealth Investments LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,573 shares of the social networking company's stock, valued at approximately $921,000.

A number of other large investors have also modified their holdings of the company. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% in 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 last quarter. Lantern Wealth Advisors LLC increased its stake in shares of 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 during the last quarter. Seelaus Asset Management LLC increased its stake in shares of Meta Platforms by 0.9% in 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 last quarter. Meredith Wealth Planning increased its stake in shares of Meta Platforms by 0.8% in 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 last quarter. Finally, Maiden Cove Capital LLC increased its stake 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 valued at $282,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Stock Performance

META traded up $15.26 during trading hours on Tuesday, reaching $642.32. The company's stock had a trading volume of 9,473,309 shares, compared to its average volume of 14,474,756. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company's 50-day moving average is $575.66 and its 200-day moving average is $609.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.62 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Scotiabank lowered their target price on Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Morgan Stanley increased their target price on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Bank of America increased their target price on Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wedbush increased their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Susquehanna lowered 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $701.05.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now owns 308,686 shares in the company, 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 have sold 75,628 shares of company stock worth $48,380,586. Company insiders own 13.71% of the company's stock.

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.