Great Valley Advisor Group Inc. Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Great Valley Advisor Group Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,746 shares of the social networking company's stock after purchasing an additional 4,672 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Meta Platforms were worth $26,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fjell Capital LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $1,836,000. Opulen Financial Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $334,000. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Meta Platforms by 9.8% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 11,200 shares of the social networking company's stock valued at $6,558,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Commons Capital LLC lifted its stake in shares of Meta Platforms by 2.1% in the 4th quarter. Commons Capital LLC now owns 5,251 shares of the social networking company's stock valued at $3,075,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on META shares. Piper Sandler increased their price target on Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Stifel Nicolaus raised their price target on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. UBS Group lifted their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Mizuho raised their price target on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One equities research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $701.05.

Meta Platforms Stock Up 2.4%

Shares of NASDAQ META traded up $15.26 during midday trading on Tuesday, hitting $642.32. 9,473,309 shares of the stock traded hands, compared to its average volume of 14,474,756. 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 business 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 market cap of $1.62 trillion, a PE ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.71 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% 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 valued at $48,380,586 over the last three months. 13.71% of the stock is currently owned by insiders.

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.