NTV Asset Management LLC Sells 310 Shares of Meta Platforms, Inc. (NASDAQ:META)

NTV Asset Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,937 shares of the social networking company’s stock after selling 310 shares during the quarter. NTV Asset Management LLC’s holdings in Meta Platforms were worth $3,163,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares during the last quarter. FMR LLC raised its holdings in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. Morgan Stanley lifted its position in shares of Meta Platforms by 3.4% during 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 buying an additional 1,184,978 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock worth $3,945,799,000 after buying an additional 111,735 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 552 shares of Meta Platforms stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now owns 34,168 shares in the company, valued at approximately $15,853,952. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the sale, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Clegg sold 2,025 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $958,392.00. Following the completion of the transaction, the insider now owns 10,053 shares in the company, valued at $4,757,883.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,257,876 shares of company stock valued at $613,168,252. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Piper Sandler reissued an “overweight” rating and issued a $545.00 price objective (down previously from $600.00) on shares of Meta Platforms in a research report on Thursday, April 25th. Morgan Stanley upped their target price on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Two research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Price Performance

META traded up $10.28 on Friday, reaching $451.96. 16,489,057 shares of the company’s stock were exchanged, compared to its average volume of 20,698,000. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The stock has a market cap of $1.15 trillion, a PE ratio of 25.96, a P/E/G ratio of 1.15 and a beta of 1.21. 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 stock’s fifty day moving average price is $490.72 and its 200-day moving average price is $408.34.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for 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%. Sell-side analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current year.

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.