Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Williams Jones Wealth Management LLC.

Williams Jones Wealth Management LLC. raised its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,103 shares of the social networking company's stock after acquiring an additional 3,121 shares during the quarter. Williams Jones Wealth Management LLC.'s holdings in Meta Platforms were worth $10,014,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on META shares. Robert W. Baird upped their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Evercore ISI upped their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Arete Research upgraded Meta Platforms to a "hold" rating in a research report on Friday, January 24th. Stifel Nicolaus boosted their target price on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Susquehanna dropped their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. One equities research 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $701.05.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was 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 directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,837 shares of company stock valued at $64,758,661. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $640.43 on Tuesday. The business has a 50-day moving average of $571.79 and a two-hundred day moving average of $607.61. The firm has a market capitalization of $1.61 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91.

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

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.

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