American International Group Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 706,413 shares of the social networking company’s stock, valued at approximately $85,010,000. Meta Platforms accounts for about 0.6% of American International Group Inc.’s holdings, making the stock its 20th largest position.
Several other large investors also recently added to or reduced their stakes in META. Laraway Financial Advisors Inc increased its position in Meta Platforms by 2.9% during the 1st quarter. Laraway Financial Advisors Inc now owns 3,490 shares of the social networking company’s stock worth $776,000 after purchasing an additional 100 shares in the last quarter. Red Wave Investments LLC increased its position in Meta Platforms by 6.4% during the 1st quarter. Red Wave Investments LLC now owns 1,870 shares of the social networking company’s stock worth $416,000 after purchasing an additional 113 shares in the last quarter. Riverpoint Wealth Management Holdings LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $25,000. NewSquare Capital LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $26,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Meta Platforms during the 4th quarter worth approximately $26,000. 60.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Edward Jones raised shares of Meta Platforms from a “hold” rating to a “buy” rating in a report on Monday, March 20th. Bank of America boosted their target price on shares of Meta Platforms from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Argus raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Wednesday, April 5th. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $257.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.87.
Insider Activity
Meta Platforms Price Performance
Shares of META stock traded up $6.42 during trading hours on Friday, reaching $259.11. The stock had a trading volume of 11,254,187 shares, compared to its average volume of 28,524,971. The stock’s fifty day simple moving average is $222.84 and its 200 day simple moving average is $169.95. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.08. Meta Platforms, Inc. has a 12 month low of $88.09 and a 12 month high of $259.31. The firm has a market capitalization of $664.03 billion, a PE ratio of 31.35, a PEG ratio of 0.94 and a beta of 1.20.
Meta Platforms Profile
Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.
Featured Articles
- Get a free copy of the StockNews.com research report on Meta Platforms (META)
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
- Hot Inflation, What It Means For The Summer Rally
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Get Rating).
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.