WCG Wealth Advisors LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

WCG Wealth Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,722 shares of the social networking company's stock after acquiring an additional 539 shares during the period. Meta Platforms accounts for approximately 0.9% of WCG Wealth Advisors LLC's holdings, making the stock its 28th biggest holding. WCG Wealth Advisors LLC's holdings in Meta Platforms were worth $13,304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in META. Millstone Evans Group LLC acquired a new position in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the 4th quarter worth approximately $59,000. Institutional investors own 79.91% of the company's stock.

Meta Platforms Price Performance

NASDAQ META traded up $14.06 on Tuesday, reaching $641.12. 4,501,037 shares of the company's stock traded hands, compared to its average volume of 14,456,777. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. 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 stock has a 50-day simple moving average of $575.66 and a 200 day simple moving average of $609.55. The stock has a market cap of $1.61 trillion, a PE ratio of 26.82, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was 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 owns 30,740 shares of the company's stock, valued at approximately $19,535,270. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,628 shares of company stock valued at $48,380,586 in the last quarter. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on META. Evercore ISI raised their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Rosenblatt Securities boosted 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. Scotiabank cut their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday, April 21st. Piper Sandler increased their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Roth Capital increased their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One equities research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.