University of Texas Texas AM Investment Management Co. Has $10.70 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

University of Texas Texas AM Investment Management Co. lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,276 shares of the social networking company's stock after purchasing an additional 864 shares during the period. Meta Platforms accounts for approximately 1.3% of University of Texas Texas AM Investment Management Co.'s holdings, making the stock its 9th largest position. University of Texas Texas AM Investment Management Co.'s holdings in Meta Platforms were worth $10,701,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC raised its stake in Meta Platforms by 0.5% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. Seelaus Asset Management LLC raised its stake 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 acquiring an additional 15 shares during the period. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% during the fourth 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 in the last quarter. Finally, Maiden Cove Capital LLC boosted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after purchasing an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 0.2%

Shares of META opened at $636.57 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 business has a fifty day moving average of $573.91 and a 200 day moving average of $608.53. The company has a market cap of $1.60 trillion, a PE ratio of 26.61, a P/E/G 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, beating 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 the consensus estimate of $41.45 billion. During the same quarter in the prior year, the firm posted $4.71 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. On average, sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction 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 trade represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the company'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 completion of the transaction, the chief technology officer now 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 sold 77,157 shares of company stock worth $49,411,000 over the last 90 days. Company insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on META shares. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets increased their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Truist Financial boosted their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, TD Securities dropped their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.