Pinnacle Wealth Planning Services Inc. Has $6.15 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Pinnacle Wealth Planning Services Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,499 shares of the social networking company's stock after selling 3,377 shares during the period. Meta Platforms accounts for approximately 0.9% of Pinnacle Wealth Planning Services Inc.'s holdings, making the stock its 14th biggest holding. Pinnacle Wealth Planning Services Inc.'s holdings in Meta Platforms were worth $6,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Valley Financial Group Inc. lifted its stake in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC increased its position 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 worth $1,743,000 after purchasing an additional 14 shares during the period. Seelaus Asset Management LLC raised its holdings in Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its position in Meta Platforms by 0.8% during the 4th 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 period. Finally, Maiden Cove Capital LLC boosted its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock valued at $282,000 after purchasing an additional 15 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

META traded up $15.26 during trading hours on Tuesday, reaching $642.32. The company's stock had a trading volume of 9,473,309 shares, compared to its average volume of 14,474,756. The company's 50-day moving average is $575.66 and its 200-day moving average is $609.55. 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 firm has a market cap of $1.62 trillion, a PE ratio of 26.85, a price-to-earnings-growth 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.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for 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%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.71 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on META shares. Morgan Stanley increased their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Susquehanna decreased their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial raised their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Insider Activity at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares of the company's stock, valued at $209,199,589.06. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total value of $329,824.50. Following the completion of the sale, the insider now directly owns 30,740 shares in the company, valued at approximately $19,535,270. This represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,628 shares of company stock worth $48,380,586. Corporate insiders own 13.71% of the company's stock.

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.