Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Reduced by Wedgewood Partners Inc.

Wedgewood Partners Inc. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 79,557 shares of the social networking company’s stock after selling 3,291 shares during the period. Meta Platforms comprises 9.2% of Wedgewood Partners Inc.’s holdings, making the stock its 3rd biggest position. Wedgewood Partners Inc.’s holdings in Meta Platforms were worth $46,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter valued at $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms in the fourth quarter valued at $47,000. Finally, Conquis Financial LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $59,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 19,668 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total value of $13,830,734.28. The disclosure for this sale can be found here. In the last three months, insiders sold 62,852 shares of company stock valued at $41,665,958. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $640.34 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. 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 company’s fifty day moving average price is $571.37 and its 200 day moving average price is $607.10.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Roth Capital lifted their price target on Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Susquehanna lowered their price target on Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. DA Davidson reduced their target price on Meta Platforms from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Moffett Nathanson lifted their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One equities research 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 assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms Company 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.