Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,818 shares of the social networking company's stock after purchasing an additional 430 shares during the period. Northeast Financial Consultants Inc's holdings in Meta Platforms were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $45,000. Cordant Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $59,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,668 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total value of $13,830,734.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 406 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the transaction, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,171 shares of company stock worth $55,161,016 in the last three months. Company insiders own 13.71% of the company's stock.

Meta Platforms Trading Down 0.5%

Shares of META stock traded down $3.54 during trading hours on Friday, hitting $640.34. 18,351,566 shares of the company were exchanged, compared to its average volume of 14,531,362. The firm has a market cap of $1.62 trillion, a PE ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. 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 firm has a fifty day moving average of $570.68 and a 200 day moving average of $606.39.

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 for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company's revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.71 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. Cantor Fitzgerald upped their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI boosted their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Citigroup boosted their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Roth Capital boosted their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and an average target price of $701.05.

About Meta Platforms

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.