Opal Wealth Advisors LLC Has $603,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Opal Wealth Advisors LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:METAGet Rating) by 9.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,713 shares of the social networking company’s stock after selling 278 shares during the quarter. Meta Platforms comprises approximately 0.5% of Opal Wealth Advisors LLC’s portfolio, making the stock its 26th biggest holding. Opal Wealth Advisors LLC’s holdings in Meta Platforms were worth $603,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barnett & Company Inc. increased its stake in Meta Platforms by 105.0% during the 4th quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after acquiring an additional 42 shares during the period. Wealth Dimensions Group Ltd. increased its stake in Meta Platforms by 3.2% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 1,473 shares of the social networking company’s stock worth $495,000 after acquiring an additional 46 shares during the period. Certified Advisory Corp increased its stake in Meta Platforms by 3.8% during the 4th quarter. Certified Advisory Corp now owns 1,341 shares of the social networking company’s stock worth $451,000 after acquiring an additional 49 shares during the period. Beaton Management Co. Inc. increased its stake in Meta Platforms by 0.5% during the 4th quarter. Beaton Management Co. Inc. now owns 9,372 shares of the social networking company’s stock worth $3,152,000 after acquiring an additional 50 shares during the period. Finally, Delta Financial Advisors LLC increased its stake in Meta Platforms by 0.7% during the 4th quarter. Delta Financial Advisors LLC now owns 6,804 shares of the social networking company’s stock worth $2,289,000 after acquiring an additional 50 shares during the period. 65.49% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 2.0 %

Meta Platforms stock opened at $167.11 on Friday. Meta Platforms, Inc. has a 12 month low of $154.25 and a 12 month high of $384.33. The business’s 50 day simple moving average is $166.98 and its 200 day simple moving average is $182.37. The company has a market cap of $449.12 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.26 and a beta of 1.32.

Meta Platforms (NASDAQ:METAGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The social networking company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.04). Meta Platforms had a net margin of 28.16% and a return on equity of 26.52%. The firm had revenue of $28.82 billion during the quarter, compared to analysts’ expectations of $28.95 billion. During the same quarter in the previous year, the company posted $3.61 EPS. Meta Platforms’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 9.58 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the sale, the insider now owns 12,187 shares in the company, valued at $2,432,525.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, CFO David M. Wehner sold 1,222 shares of the stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $198.62, for a total transaction of $242,713.64. Following the sale, the chief financial officer now owns 12,247 shares in the company, valued at $2,432,499.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 311 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total value of $62,075.60. Following the sale, the insider now owns 12,187 shares in the company, valued at approximately $2,432,525.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,236 shares of company stock worth $8,958,728. Insiders own 13.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Rosenblatt Securities lowered their price objective on Meta Platforms from $212.00 to $181.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. Susquehanna Bancshares decreased their price target on Meta Platforms from $375.00 to $290.00 in a research note on Thursday, April 28th. Jefferies Financial Group reduced their price objective on Meta Platforms from $330.00 to $310.00 in a research report on Tuesday, May 24th. Wells Fargo & Company reduced their price objective on Meta Platforms from $325.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Finally, Atlantic Securities set a $215.00 price objective on Meta Platforms in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.98.

About Meta Platforms

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Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

See Also

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAGet Rating).

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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