Waldron Private Wealth LLC Sells 34 Shares of Meta Platforms, Inc. (NASDAQ:META)

Waldron Private Wealth LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the second quarter, Holdings Channel reports. The institutional investor owned 26,438 shares of the social networking company’s stock after selling 34 shares during the period. Waldron Private Wealth LLC’s holdings in Meta Platforms were worth $13,331,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in META. Vantage Financial Partners LLC increased its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Aveo Capital Partners LLC increased its position in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after buying an additional 722 shares during the period. 9258 Wealth Management LLC raised its stake in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after buying an additional 1,594 shares during the last quarter. Finally, Rollins Financial lifted its holdings in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $511.76 on Wednesday. The company has a market capitalization of $1.30 trillion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company’s 50-day moving average is $505.32 and its 200 day moving average is $493.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week 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 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on META shares. Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Stifel Nicolaus raised their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Roth Mkm raised their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold a total of 392,082 shares of company stock valued at $202,909,089 over the last three months. 13.71% of the stock is currently owned by insiders.

About Meta Platforms

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.