Scissortail Wealth Management LLC Acquires 829 Shares of Meta Platforms, Inc. (NASDAQ:META)

Scissortail Wealth Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6,376.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842 shares of the social networking company's stock after purchasing an additional 829 shares during the quarter. Scissortail Wealth Management LLC's holdings in Meta Platforms were worth $493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC increased its stake in Meta Platforms by 5.8% in the fourth 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 during the period. RMR Wealth Builders increased its stake in Meta Platforms by 4.9% in the fourth quarter. RMR Wealth Builders now owns 11,830 shares of the social networking company's stock worth $6,927,000 after purchasing an additional 556 shares during the period. Fjell Capital LLC purchased a new stake in Meta Platforms in the fourth quarter worth $1,836,000. Opulen Financial Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at $325,000. Finally, Wiser Wealth Management Inc increased its stake in shares of Meta Platforms by 24.6% during the fourth quarter. Wiser Wealth Management Inc now owns 765 shares of the social networking company's stock valued at $448,000 after buying an additional 151 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $447,530.56. Following the transaction, the chief operating officer now owns 9,878 shares of the company's stock, valued at approximately $7,270,899.46. This represents a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the transaction, the insider now directly owns 35,787 shares in the company, valued at approximately $26,341,737.09. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,852 shares of company stock valued at $41,665,958 in the last quarter. Insiders own 13.71% of the company's stock.

Meta Platforms Stock Down 0.5%

Shares of NASDAQ:META opened at $640.34 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 $571.37 and a two-hundred day moving average of $606.72. The stock has a market cap of $1.62 trillion, a P/E ratio of 26.77, a PEG 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 issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (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 analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on META shares. Bank of America raised their price target on Meta Platforms from $640.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Guggenheim lifted their target price on Meta Platforms from $675.00 to $725.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup lifted their target price on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. KeyCorp lifted their target price on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald lifted their target price on Meta Platforms from $624.00 to $676.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $701.05.

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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