WCG Wealth Advisors LLC Has $13.30 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

WCG Wealth Advisors LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 22,722 shares of the social networking company’s stock after purchasing an additional 539 shares during the period. Meta Platforms makes up approximately 0.9% of WCG Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding. WCG Wealth Advisors LLC’s holdings in Meta Platforms were worth $13,304,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in META. Regent Peak Wealth Advisors LLC increased its stake in Meta Platforms by 5.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after buying an additional 277 shares during the last quarter. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $334,000. Finally, Wealth Management Partners LLC increased its stake in Meta Platforms by 19.7% in the 4th quarter. Wealth Management Partners LLC now owns 2,315 shares of the social networking company’s stock valued at $1,355,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 406 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the transaction, the chief operating officer now owns 4,608 shares of the company’s stock, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total value of $329,824.50. Following the transaction, the insider now directly owns 30,740 shares of the company’s stock, valued at $19,535,270. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,157 shares of company stock valued at $49,411,000. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.2%

Shares of Meta Platforms stock opened at $636.57 on Friday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a market cap 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. The company’s 50-day moving average price is $573.91 and its 200-day moving average price is $608.53.

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

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. UBS Group increased their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Rosenblatt Securities upped their price objective on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cantor Fitzgerald upped their price objective on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $701.05.

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.