Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,695 shares of the social networking company’s stock after purchasing an additional 236 shares during the quarter. Meta Platforms makes up approximately 2.0% of SGL Investment Advisors Inc.’s portfolio, making the stock its 21st largest holding. SGL Investment Advisors Inc.’s holdings in Meta Platforms were worth $3,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of META. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the 4th quarter worth $45,000. Cordant Inc. purchased a new stake in Meta Platforms during the 4th quarter worth $59,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Mizuho lifted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Argus set a $775.00 price objective on shares of Meta Platforms in a report on Tuesday, February 4th. Finally, Raymond James decreased their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $696.45.

Meta Platforms Stock Down 2.3%

META stock opened at $643.88 on Friday. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The firm’s 50-day moving average is $570.68 and its two-hundred day moving average is $606.39. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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 analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm earned $4.71 EPS. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at $38,154,349.31. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 907 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $645.77, for a total transaction of $585,713.39. Following the completion of the sale, the insider now owns 24,749 shares in the company, valued at $15,982,161.73. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,171 shares of company stock worth $55,161,016. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.