Apollon Wealth Management LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Apollon Wealth Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 42.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 37,782 shares of the social networking company’s stock after purchasing an additional 11,346 shares during the quarter. Apollon Wealth Management LLC’s holdings in Meta Platforms were worth $13,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC increased its holdings 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 buying an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 11,154.4% in the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management increased its holdings in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Meta Platforms by 55.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after purchasing an additional 3,093,715 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Meta Platforms by 1,457.5% during the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after purchasing an additional 2,953,704 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on META. Evercore ISI upped their price target on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Monness Crespi & Hardt upped their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Raymond James cut their price target on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Bank of America upped their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, BNP Paribas began coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $509.80.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value 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 $36,157,645.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 10,956 shares of Meta Platforms 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 transaction, the chief financial officer now owns 76,398 shares of the company’s stock, valued at $36,157,645.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,222,926 shares of company stock valued at $597,174,351. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Meta Platforms stock traded up $2.56 during trading hours on Tuesday, hitting $468.24. 13,382,768 shares of the stock traded hands, compared to its average volume of 18,298,424. 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’s 50 day moving average price is $490.40 and its 200-day moving average price is $410.65. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $230.27 and a 1 year high of $531.49.

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