Michels Family Financial LLC Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Michels Family Financial LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,576 shares of the social networking company's stock, valued at approximately $1,509,000. Meta Platforms makes up approximately 1.4% of Michels Family Financial LLC's investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Castlekeep Investment Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $55,880,000. Drucker Wealth 3.0 LLC increased its position in Meta Platforms by 5.1% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 9,486 shares of the social networking company's stock valued at $5,554,000 after buying an additional 463 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Meta Platforms in the fourth quarter valued at about $5,823,000. Ball & Co Wealth Management Inc. acquired a new stake in Meta Platforms in the fourth quarter worth about $59,000. Finally, Jupiter Wealth Management LLC grew its stake in shares of Meta Platforms by 7.8% during the fourth quarter. Jupiter Wealth Management LLC now owns 7,251 shares of the social networking company's stock worth $4,246,000 after acquiring an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares of the company's stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business's stock in a transaction that occurred 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. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,628 shares of company stock worth $48,380,586. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 2.4%

META stock traded up $15.26 during trading on Tuesday, reaching $642.32. 9,463,898 shares of the stock were exchanged, compared to its average volume of 17,063,326. 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 firm has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.42 and a beta of 1.24. The business has a 50 day moving average price of $575.66 and a 200-day moving average price of $609.55. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released 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%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.71 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

META has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Moffett Nathanson boosted their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Raymond James cut their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Argus set a $775.00 price target on Meta Platforms in a research report on Tuesday, February 4th. Finally, Bank of America increased their price objective on Meta Platforms from $640.00 to $690.00 and gave the company a "buy" 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 given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.