AlphaCore Capital LLC Increases Position in Meta Platforms, Inc. (NASDAQ:META)

AlphaCore Capital LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,858 shares of the social networking company’s stock after purchasing an additional 456 shares during the period. AlphaCore Capital LLC’s holdings in Meta Platforms were worth $2,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $47,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $627.06 on Friday. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 26.21, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $574.80 and its two-hundred day moving average is $608.90.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on META. Wedbush boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Argus set a $775.00 target price on shares of Meta Platforms in a report on Tuesday, February 4th. Evercore ISI upped their price target on Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Benchmark lowered their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Pivotal Research cut their price objective on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now directly owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,157 shares of company stock worth $49,411,000. Insiders own 13.71% of the company’s stock.

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.