Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Centric Wealth Management

Centric Wealth Management raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 987 shares of the social networking company’s stock after acquiring an additional 101 shares during the quarter. Centric Wealth Management’s holdings in Meta Platforms were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Addison Advisors LLC boosted its position in Meta Platforms by 3.9% during the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after purchasing an additional 25 shares during the period. WoodTrust Financial Corp boosted its position in shares of Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after acquiring an additional 27 shares during the period. Tennessee Valley Asset Management Partners grew its position in Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after acquiring an additional 27 shares in the last quarter. Peterson Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 1.9% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after buying an additional 28 shares in the last quarter. Finally, Edge Wealth Management LLC grew its position in Meta Platforms by 4.0% during the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on META shares. Tigress Financial increased their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. The Goldman Sachs Group reduced their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wedbush lowered their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Canaccord Genuity Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Trading Up 0.8 %

NASDAQ META traded up $3.97 during trading hours on Wednesday, reaching $472.21. The company had a trading volume of 9,105,946 shares, compared to its average volume of 18,190,977. Meta Platforms, Inc. has a 1-year low of $230.72 and a 1-year high of $531.49. The stock has a 50-day moving average of $490.03 and a 200 day moving average of $411.78. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $445.93, for a total transaction of $218,505.70. Following the completion of the transaction, the chief operating officer now directly owns 6,109 shares in the company, valued at approximately $2,724,186.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the completion of the transaction, the chief operating officer now owns 6,109 shares in the company, valued at $2,724,186.37. The disclosure for this sale can be found here. Insiders sold 1,223,416 shares of company stock valued at $597,392,856 over the last ninety days. 13.71% of the stock is owned by 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.