Vermillion Wealth Management Inc. Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Vermillion Wealth Management Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 517 shares of the social networking company's stock, valued at approximately $303,000.

Other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on META. Wedbush upped their price objective on Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. UBS Group upped their price objective on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Oppenheimer upped their price objective on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley upped their price objective on Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald upped their price objective on shares of Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One equities 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Meta Platforms Stock Performance

Shares of META stock opened at $627.06 on Friday. The firm has a 50-day moving average of $574.80 and a 200-day moving average of $609.16. The company has a market cap of $1.58 trillion, a P/E ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a one year low of $442.65 and a one year 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 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.71 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the completion of the transaction, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total transaction of $613,155.75. Following the transaction, the insider now owns 34,866 shares of the company's stock, valued at approximately $23,212,039.50. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,157 shares of company stock worth $49,411,000 over the last quarter. Insiders own 13.71% of the company's stock.

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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