Western Wealth Management LLC Has $1.95 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Western Wealth Management LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 82.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,328 shares of the social networking company's stock after selling 16,093 shares during the quarter. Western Wealth Management LLC's holdings in Meta Platforms were worth $1,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Regent Peak Wealth Advisors LLC grew its position in Meta Platforms by 5.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after purchasing an additional 277 shares in the last quarter. Fjell Capital LLC bought a new stake in Meta Platforms in the 4th quarter worth about $1,836,000. Opulen Financial Group LLC bought a new stake in Meta Platforms in the 4th quarter worth about $325,000. Daner Wealth Management LLC bought a new stake in Meta Platforms in the 4th quarter worth about $334,000. Finally, Wealth Management Partners LLC grew its position in Meta Platforms by 19.7% in the 4th quarter. Wealth Management Partners LLC now owns 2,315 shares of the social networking company's stock worth $1,355,000 after purchasing an additional 381 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $636.57 on Friday. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year 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 market capitalization of $1.60 trillion, a PE ratio of 26.61, a P/E/G ratio of 1.42 and a beta of 1.24. The company's 50 day simple moving average is $573.91 and its two-hundred day simple moving average is $608.53.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $41.45 billion. During the same period in the prior year, the company posted $4.71 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on META shares. BMO Capital Markets upped their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Moffett Nathanson upped their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. TD Securities reduced their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Bank of America upped their price objective on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report 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 stock an "overweight" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and an average target price of $701.05.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $635.50, for a total transaction of $329,824.50. Following the sale, the insider now owns 30,740 shares in the company, valued at approximately $19,535,270. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 608 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the sale, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,157 shares of company stock worth $49,411,000 in the last three months. 13.71% of the stock is currently owned by corporate 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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