Tolleson Wealth Management Inc. Invests $456,000 in Meta Platforms, Inc. (NASDAQ:META)

Tolleson Wealth Management Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 778 shares of the social networking company’s stock, valued at approximately $456,000.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $19,949,512,000. Proficio Capital Partners LLC increased its position in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after purchasing an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at $2,243,603,000. Northern Trust Corp grew its holdings in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after buying an additional 2,787,832 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Meta Platforms by 27.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock valued at $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

META has been the subject of several analyst reports. Wedbush upped their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Royal Bank of Canada restated an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Scotiabank dropped their target price on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. BMO Capital Markets upped their target price on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Truist Financial increased their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $701.05.

Meta Platforms Price Performance

META stock opened at $640.34 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $1.61 trillion, a P/E ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The business’s 50-day moving average is $571.37 and its two-hundred day moving average is $606.82. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91.

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

Insider Activity

In related news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $631.25, for a total transaction of $383,800.00. Following the transaction, the chief operating officer now owns 2,582 shares in the company, valued at $1,629,887.50. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total value of $677,920.47. Following the transaction, the insider now owns 35,787 shares in the company, valued at $26,341,737.09. This represents a 2.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,852 shares of company stock worth $41,665,958. 13.71% of the stock is currently owned by 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.