ARQ Wealth Advisors LLC Buys 200 Shares of Meta Platforms, Inc. (NASDAQ:META)

ARQ Wealth Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 36.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 751 shares of the social networking company’s stock after acquiring an additional 200 shares during the quarter. ARQ Wealth Advisors LLC’s holdings in Meta Platforms were worth $440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $627.06 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The stock’s 50-day moving average is $574.80 and its 200-day moving average is $608.90. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

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

Analysts Set New Price Targets

META has been the subject of several analyst reports. Barclays lowered their price target on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Robert W. Baird raised their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. KeyCorp lifted their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, Piper Sandler raised their price target on Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $686.28, for a total transaction of $417,258.24. Following the completion of the transaction, the chief operating officer now owns 9,270 shares in the company, valued at approximately $6,361,815.60. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction on Monday, May 19th. The shares were sold at an average price of $628.25, for a total transaction of $298,418.75. Following the completion of the sale, the director now owns 10,272 shares in the company, valued at $6,453,384. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,157 shares of company stock valued at $49,411,000 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

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.