Patrick M Sweeney & Associates Inc. Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,350 shares of the social networking company’s stock, valued at approximately $478,000.

Other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC increased its holdings in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter worth $39,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,223,416 shares of company stock valued at $597,392,856. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META traded up $4.36 during trading hours on Wednesday, reaching $472.60. The stock had a trading volume of 11,651,678 shares, compared to its average volume of 18,223,398. Meta Platforms, Inc. has a 1 year low of $230.72 and a 1 year high of $531.49. The firm’s 50 day moving average is $490.03 and its 200-day moving average is $411.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.18 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Susquehanna lifted their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Raymond James cut their price target on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Wolfe Research cut their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company cut their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Company 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.