B. Riley Wealth Advisors Inc. Has $35.73 Million Position in Meta Platforms, Inc. (NASDAQ:META)

B. Riley Wealth Advisors Inc. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,020 shares of the social networking company's stock after selling 3,841 shares during the quarter. Meta Platforms comprises 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 quarter.

A number of other institutional investors have also recently added to or reduced their stakes in META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms in the fourth quarter worth $47,000. Finally, Conquis Financial LLC bought a new stake in Meta Platforms in the fourth quarter valued at $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. Roth Capital upped their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. TD Securities decreased their target price on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Raymond James reduced their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities increased their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $15.26 during midday trading on Tuesday, hitting $642.32. 9,473,309 shares of the company's stock were exchanged, compared to its average volume of 14,474,756. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market cap 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 current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's fifty day moving average price is $575.66 and its two-hundred day moving average price is $609.55.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm posted $4.71 EPS. Meta Platforms's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at approximately $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $673.96, for a total transaction of $409,767.68. Following the completion of the transaction, the chief operating officer now directly owns 8,662 shares of the company's stock, valued at $5,837,841.52. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,628 shares of company stock worth $48,380,586 over the last quarter. Corporate 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.