Strategic Wealth Partners Ltd. Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Strategic Wealth Partners Ltd. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 97.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,426 shares of the social networking company's stock after acquiring an additional 2,678 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Meta Platforms were worth $3,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Regent Peak Wealth Advisors LLC boosted its stake in Meta Platforms by 5.8% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after acquiring an additional 277 shares during the last quarter. Fjell Capital LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $325,000. Brady Family Wealth LLC lifted its stake in Meta Platforms by 14.1% in the fourth quarter. Brady Family Wealth LLC now owns 2,671 shares of the social networking company's stock valued at $1,564,000 after purchasing an additional 331 shares during the last quarter. Finally, Mason & Associates Inc grew its holdings in Meta Platforms by 28.5% during the fourth quarter. Mason & Associates Inc now owns 1,372 shares of the social networking company's stock valued at $803,000 after purchasing an additional 304 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $640.34 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.61 trillion, a PE ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. The company's fifty day moving average is $571.37 and its 200 day moving average is $606.82. 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 quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same period last year, the firm earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. Benchmark dropped their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler upped their price objective on shares of Meta Platforms from $610.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Scotiabank cut their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. KeyCorp boosted their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, DA Davidson cut their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total transaction of $13,830,734.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 406 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,852 shares of company stock worth $41,665,958. 13.71% of the stock is currently owned by insiders.

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.

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