Quadcap Wealth Management LLC Boosts Stake in Meta Platforms, Inc. (NASDAQ:META)

Quadcap Wealth Management LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,839 shares of the social networking company’s stock after buying an additional 172 shares during the quarter. Meta Platforms comprises about 1.0% of Quadcap Wealth Management LLC’s holdings, making the stock its 17th largest position. Quadcap Wealth Management LLC’s holdings in Meta Platforms were worth $6,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC boosted its holdings in Meta Platforms by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after acquiring an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Meta Platforms by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock valued at $24,777,282,000 after acquiring an additional 1,049,121 shares during the period. Capital World Investors boosted its holdings in Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock valued at $23,606,338,000 after acquiring an additional 1,141,355 shares during the period. Finally, Norges Bank purchased a new stake in Meta Platforms during the 4th quarter valued at about $19,949,512,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on META. DA Davidson lowered their price target on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, April 14th. KeyCorp raised their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $696.45.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $592.52, for a total transaction of $545,710.92. Following the transaction, the insider now owns 25,656 shares of the company’s stock, valued at approximately $15,201,693.12. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 406 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,932 shares of company stock worth $69,021,252 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.5%

Shares of META stock opened at $659.36 on Thursday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $569.76 and its 200-day moving average price is $605.94. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

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

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.