WESPAC Advisors LLC Has $437,000 Position in Meta Platforms, Inc. (NASDAQ:META)

WESPAC Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 57.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 867 shares of the social networking company’s stock after acquiring an additional 318 shares during the period. WESPAC Advisors LLC’s holdings in Meta Platforms were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Navalign LLC increased its stake in Meta Platforms by 1.0% during the 2nd quarter. Navalign LLC now owns 6,840 shares of the social networking company’s stock worth $3,449,000 after acquiring an additional 69 shares during the period. Bryn Mawr Capital Management LLC increased its stake in Meta Platforms by 8.7% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 31,368 shares of the social networking company’s stock worth $15,810,000 after acquiring an additional 2,507 shares during the period. MBA Advisors LLC increased its stake in Meta Platforms by 1.9% during the 2nd quarter. MBA Advisors LLC now owns 2,187 shares of the social networking company’s stock worth $1,103,000 after acquiring an additional 41 shares during the period. Pinnacle Wealth Management LLC increased its stake in shares of Meta Platforms by 3.1% in the 2nd quarter. Pinnacle Wealth Management LLC now owns 7,876 shares of the social networking company’s stock valued at $3,971,000 after purchasing an additional 240 shares during the last quarter. Finally, Integral Investment Advisors Inc. increased its stake in shares of Meta Platforms by 26.6% in the 2nd quarter. Integral Investment Advisors Inc. now owns 581 shares of the social networking company’s stock valued at $302,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ:META opened at $521.31 on Monday. The company has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 29.94, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The business’s 50-day moving average is $504.85 and its 200-day moving average is $493.11. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the prior year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $525.00 price target on shares of Meta Platforms in a research note on Tuesday, July 30th. Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Finally, KeyCorp lifted their price target on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 7,975 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the transaction, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at approximately $274,643,622.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the sale, the insider now directly owns 41,465 shares of the company’s stock, valued at approximately $19,778,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the sale, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at $274,643,622.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 388,078 shares of company stock valued at $200,792,168. 13.71% of the stock is owned by company 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.