Aviance Capital Partners LLC Has $6.62 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Aviance Capital Partners LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,692 shares of the social networking company’s stock after selling 1,103 shares during the period. Meta Platforms makes up about 1.4% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 13th largest holding. Aviance Capital Partners LLC’s holdings in Meta Platforms were worth $6,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. Stone House Investment Management LLC grew its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares in the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $39,000. Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. Finally, PayPay Securities Corp grew its position in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

META has been the topic of several analyst reports. Roth Mkm boosted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Wolfe Research lowered their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. BMO Capital Markets increased their price objective on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Finally, Wedbush dropped their price target on shares of Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the transaction, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction that occurred 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 $36,157,645.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,257,876 shares of company stock worth $613,168,252. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $13.72 during mid-day trading on Monday, reaching $465.68. The company had a trading volume of 15,071,031 shares, compared to its average volume of 18,354,510. The business has a fifty day simple moving average of $490.72 and a 200 day simple moving average of $409.58. The company has a market cap of $1.18 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.18 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, Inc. has a fifty-two week low of $230.27 and a fifty-two week high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share 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.