1,408 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Breakthru Advisory Services LLC

Breakthru Advisory Services LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,408 shares of the social networking company’s stock, valued at approximately $824,000. Meta Platforms accounts for 0.7% of Breakthru Advisory Services LLC’s investment portfolio, making the stock its 19th largest position.

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

Meta Platforms Price Performance

META opened at $636.57 on Friday. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.42 and a beta of 1.24. 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, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The business’s fifty day simple moving average is $573.91 and its 200-day simple moving average is $608.53.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the prior year, the business earned $4.71 earnings per share. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the sale, the chief technology officer now owns 1,183 shares of the company’s stock, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,157 shares of company stock worth $49,411,000. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Loop Capital boosted their price objective on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a research report on Friday, May 16th. TD Securities lowered their target price on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Mizuho raised their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Scotiabank cut their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $701.05.

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.