Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 71.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,923 shares of the social networking company’s stock after acquiring an additional 1,636 shares during the quarter. Westover Capital Advisors LLC’s holdings in Meta Platforms were worth $1,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. Daiwa Securities Group Inc. grew its position in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the period. Bank of Stockton lifted its stake in shares of Meta Platforms by 9.2% in the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after buying an additional 400 shares in the last quarter. Signify Wealth purchased a new position in shares of Meta Platforms in the fourth quarter worth about $228,000. Illinois Municipal Retirement Fund lifted its stake in shares of Meta Platforms by 1.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after buying an additional 4,025 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. lifted its stake in shares of Meta Platforms by 1.5% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on META. UBS Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. TD Cowen decreased their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada decreased their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Roth Mkm lifted their target price on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Stock Performance

META stock traded up $2.27 on Thursday, hitting $441.46. The company’s stock had a trading volume of 11,954,271 shares, compared to its average volume of 18,373,143. The firm has a 50 day moving average of $492.83 and a two-hundred day moving average of $406.97. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

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

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the transaction, the chief operating officer now owns 6,599 shares in the company, valued at approximately $2,913,722.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Insiders sold a total of 1,257,291 shares of company stock worth $612,916,087 in the last 90 days. 13.71% of the stock is owned by insiders.

About Meta Platforms

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.