Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Pinnacle Wealth Planning Services Inc.

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. 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 4th quarter worth about $325,000. Daner Wealth Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $334,000. Appleton Partners Inc. MA lifted its stake in Meta Platforms by 3.7% during the fourth quarter. Appleton Partners Inc. MA now owns 26,312 shares of the social networking company's stock worth $15,406,000 after purchasing an additional 951 shares during the last quarter. Finally, Kelleher Financial Advisors boosted its holdings in Meta Platforms by 0.9% in the fourth quarter. Kelleher Financial Advisors now owns 12,415 shares of the social networking company's stock valued at $7,269,000 after purchasing an additional 109 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $673.96, for a total value of $409,767.68. Following the transaction, the chief operating officer now directly owns 8,662 shares in the company, valued at approximately $5,837,841.52. This represents a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,628 shares of company stock valued at $34,826,386 over the last quarter. Corporate insiders own 13.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on META shares. Loop Capital lifted their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Piper Sandler lifted their price target on Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Oppenheimer raised their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price target on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued 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 target price of $701.05.

Meta Platforms Price Performance

META traded up $2.05 during trading on Thursday, reaching $645.63. 5,399,014 shares of the stock were exchanged, compared to its average volume of 14,434,981. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. 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 1 year low of $442.65 and a 1 year high of $740.91. The business's 50 day moving average price is $577.74 and its two-hundred day moving average price is $610.01.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the firm earned $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities research analysts anticipate 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.