Power Wealth Management LLC Makes New $1.27 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Power Wealth Management LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,599 shares of the social networking company’s stock, valued at approximately $1,274,000. Meta Platforms comprises about 0.9% of Power Wealth Management LLC’s holdings, making the stock its 26th biggest position.

A number of other institutional investors have also modified their holdings of META. M&T Bank Corp boosted its holdings in Meta Platforms by 0.4% in the fourth quarter. M&T Bank Corp now owns 362,744 shares of the social networking company’s stock worth $128,397,000 after acquiring an additional 1,279 shares in the last quarter. Bordeaux Wealth Advisors LLC boosted its position in Meta Platforms by 25.1% in the fourth quarter. Bordeaux Wealth Advisors LLC now owns 40,867 shares of the social networking company’s stock valued at $14,465,000 after buying an additional 8,195 shares during the last quarter. Goldstream Capital Management Ltd increased its holdings in Meta Platforms by 52.2% in the 4th quarter. Goldstream Capital Management Ltd now owns 37,648 shares of the social networking company’s stock worth $13,326,000 after buying an additional 12,912 shares during the period. Montis Financial LLC purchased a new position in Meta Platforms during the 4th quarter worth approximately $209,000. Finally, 9258 Wealth Management LLC boosted its holdings in Meta Platforms by 66.4% in the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird cut their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Guggenheim reduced their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wedbush dropped their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Meta Platforms Trading Up 2.3 %

Shares of NASDAQ META traded up $10.28 during mid-day trading on Friday, reaching $451.96. 16,489,057 shares of the company’s stock were exchanged, compared to its average volume of 20,698,000. The firm has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The company’s 50-day moving average is $490.72 and its 200-day moving average is $408.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 34,398 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the sale, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total transaction of $15,737,772.96. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,876 shares of company stock valued at $613,168,252 over the last quarter. 13.71% of the stock is owned by company 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.