Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,996 shares of the social networking company’s stock after buying an additional 7,942 shares during the quarter. Meta Platforms comprises 0.9% of Spire Wealth Management’s holdings, making the stock its 19th largest position. Spire Wealth Management’s holdings in Meta Platforms were worth $26,072,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. PayPay Securities Corp raised its stake in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Robert W. Baird reduced their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Citigroup reduced their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Truist Financial lowered their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Trading Up 2.3 %

Shares of META traded up $10.28 during mid-day trading on Friday, reaching $451.96. The stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.18 and a beta of 1.21. The business’s fifty day moving average is $490.72 and its 200 day moving average is $409.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during 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 predict that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,257,876 shares of company stock worth $613,168,252. 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.