Meta Platforms, Inc. (NASDAQ:META) is B. Riley Wealth Advisors Inc.'s 9th Largest Position

B. Riley Wealth Advisors Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 61,020 shares of the social networking company's stock after selling 3,841 shares during the period. Meta Platforms makes up approximately 1.2% of B. Riley Wealth Advisors Inc.'s holdings, making the stock its 9th largest holding. B. Riley Wealth Advisors Inc.'s holdings in Meta Platforms were worth $35,728,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Valley Financial Group Inc. raised 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 buying an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its holdings in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after buying an additional 14 shares during the last quarter. Seelaus Asset Management LLC increased its holdings 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 Meta Platforms by 0.8% in the fourth 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 grew its holdings in shares of Meta Platforms by 3.2% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank cut 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. The Goldman Sachs Group increased their price objective 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. Guggenheim increased their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Citigroup upped their price target on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Evercore ISI raised their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction 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 completion of the transaction, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $628.25, for a total value of $298,418.75. Following the transaction, the director now directly owns 10,272 shares of the company's stock, valued at $6,453,384. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,628 shares of company stock valued at $34,826,386. 13.61% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock traded up $1.01 during trading on Thursday, reaching $644.59. 5,643,457 shares of the company's stock were exchanged, compared to its average volume of 14,435,889. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The firm's fifty day moving average price is $577.74 and its 200-day moving average price is $610.01. 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 stock has a market capitalization of $1.62 trillion, a PE ratio of 26.96, a PEG ratio of 1.42 and a beta of 1.24.

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

About Meta Platforms

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.