WealthShield Partners LLC Buys 1,114 Shares of Meta Platforms, Inc. $META

WealthShield Partners LLC increased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,769 shares of the social networking company’s stock after purchasing an additional 1,114 shares during the quarter. Meta Platforms makes up approximately 0.9% of WealthShield Partners LLC’s investment portfolio, making the stock its 27th biggest position. WealthShield Partners LLC’s holdings in Meta Platforms were worth $7,768,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Meta Platforms by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after purchasing an additional 7,269,279 shares during the period. State Street Corp raised its holdings in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares during the period. Capital World Investors raised its holdings in Meta Platforms by 0.7% in the 3rd quarter. Capital World Investors now owns 39,247,690 shares of the social networking company’s stock worth $28,823,375,000 after purchasing an additional 278,180 shares during the period. Invesco Ltd. raised its holdings in Meta Platforms by 0.8% in the 3rd quarter. Invesco Ltd. now owns 17,153,754 shares of the social networking company’s stock worth $12,597,374,000 after purchasing an additional 142,229 shares during the period. Finally, Legal & General Group Plc raised its holdings in Meta Platforms by 4.1% during the third quarter. Legal & General Group Plc now owns 14,332,168 shares of the social networking company’s stock valued at $10,525,258,000 after acquiring an additional 558,792 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Down 0.7%

META opened at $614.23 on Friday. The firm has a market cap of $1.55 trillion, a P/E ratio of 22.33, a P/E/G ratio of 1.08 and a beta of 1.25. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $796.25. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $622.18 and a 200 day moving average of $640.72.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 EPS for the quarter, topping the consensus estimate of $6.67 by $3.77. The company had revenue of $56.31 billion during the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm’s revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business posted $6.43 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 29.65 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Argus reissued a “buy” rating and set a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. Truist Financial decreased their price target on Meta Platforms from $900.00 to $840.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Arete Research reissued a “neutral” rating on shares of Meta Platforms in a report on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $725.00 price target (down from $825.00) on shares of Meta Platforms in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $840.31.

Get Our Latest Report on Meta Platforms

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 580 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $667.00, for a total value of $386,860.00. Following the completion of the sale, the director owned 3,847 shares of the company’s stock, valued at $2,565,949. This trade represents a 13.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $604.57, for a total transaction of $559,831.82. Following the completion of the sale, the chief operating officer directly owned 6,853 shares of the company’s stock, valued at approximately $4,143,118.21. The trade was a 11.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 160,352 shares of company stock valued at $102,559,436. 13.61% of the stock is owned by insiders.

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About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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

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