Investmark Advisory Group LLC Trims Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Investmark Advisory Group LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,034 shares of the social networking company’s stock after selling 269 shares during the quarter. Investmark Advisory Group LLC’s holdings in Meta Platforms were worth $606,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of META. City National Bank of Florida MSD bought a new stake in Meta Platforms during the 4th quarter valued at about $552,000. JT Stratford LLC increased its position in shares of Meta Platforms by 5.0% during the fourth quarter. JT Stratford LLC now owns 14,863 shares of the social networking company’s stock worth $8,702,000 after acquiring an additional 707 shares during the period. Brown Shipley& Co Ltd raised its stake in shares of Meta Platforms by 22.8% during the fourth quarter. Brown Shipley& Co Ltd now owns 5,334 shares of the social networking company’s stock valued at $3,123,000 after acquiring an additional 989 shares in the last quarter. Mosaic Family Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 1.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company’s stock valued at $840,000 after purchasing an additional 17 shares during the period. Finally, RB Capital Management LLC grew its stake in Meta Platforms by 0.8% in the fourth quarter. RB Capital Management LLC now owns 14,874 shares of the social networking company’s stock worth $8,709,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.3%

NASDAQ:META opened at $635.50 on Thursday. The company has a market capitalization of $1.60 trillion, a P/E ratio of 26.57, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The firm has a fifty day simple moving average of $573.28 and a 200-day simple moving average of $608.00.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of Meta Platforms stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,161 shares of company stock valued at $51,551,150. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Citigroup raised their price target on Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Mizuho lifted their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. TD Securities lowered their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Moffett Nathanson raised their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms 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.