Peddock Capital Advisors LLC Buys 54 Shares of Meta Platforms, Inc. (NASDAQ:META)

Peddock Capital Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,434 shares of the social networking company’s stock after purchasing an additional 54 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Meta Platforms were worth $862,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 1.0% during the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC grew its stake in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after acquiring an additional 5,001,647 shares in the last quarter. Morgan Stanley raised its holdings in shares of Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the last quarter. Northern Trust Corp lifted its position in shares of Meta Platforms by 4.3% during the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after purchasing an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,324,745 shares of the social networking company’s stock worth $4,716,427,000 after purchasing an additional 181,283 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $3.80 during trading on Wednesday, hitting $472.04. The company’s stock had a trading volume of 8,835,492 shares, compared to its average volume of 18,188,404. The company has a 50-day moving average of $490.03 and a 200-day moving average of $411.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $230.72 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Raymond James cut their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company lowered 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. Bank of America raised their target price on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, BMO Capital Markets upped their price target on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $469.69, for a total value of $16,156,396.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,223,416 shares of company stock valued at $597,392,856. Company insiders own 13.71% of the company’s stock.

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.