Great Valley Advisor Group Inc. Has $26.79 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Great Valley Advisor Group Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cypress Asset Management Inc. TX acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $6,222,000. Ameriflex Group Inc. acquired a new position in Meta Platforms in the fourth quarter valued at about $1,495,000. United Advisor Group LLC grew its stake in Meta Platforms by 1.8% during the fourth quarter. United Advisor Group LLC now owns 9,236 shares of the social networking company's stock worth $5,408,000 after buying an additional 165 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $1,825,000. Finally, Challenger Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $501,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.2%

Shares of Meta Platforms stock traded up $1.56 during trading on Thursday, reaching $645.14. The stock had a trading volume of 5,399,014 shares, compared to its average volume of 14,434,981. 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 company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The stock has a fifty day moving average price of $577.74 and a two-hundred day moving average price of $610.01.

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. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned $4.71 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $595.00, for a total transaction of $547,995.00. Following the completion of the transaction, the insider now owns 33,024 shares in the company, valued at approximately $19,649,280. This trade represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This represents a 9.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,628 shares of company stock worth $34,826,386. Insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of several research analyst reports. KeyCorp lifted their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Argus set a $775.00 target price on shares of Meta Platforms in a research note on Tuesday, February 4th. Loop Capital upped their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Cantor Fitzgerald upped their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $701.05.

Meta Platforms Company 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.