Marcum Wealth LLC Acquires 261 Shares of Meta Platforms, Inc. (NASDAQ:META)

Marcum Wealth LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,237 shares of the social networking company’s stock after acquiring an additional 261 shares during the quarter. Marcum Wealth LLC’s holdings in Meta Platforms were worth $4,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Suvretta Capital Management LLC boosted its position in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP boosted its holdings in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock worth $44,616,000 after buying an additional 43,200 shares during the period. Brueske Advisory Services LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $459,000. Apollon Financial LLC raised its holdings in Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after acquiring an additional 148 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company’s stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho increased their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Stifel Nicolaus increased their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Guggenheim boosted their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Moffett Nathanson raised their price target on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $701.05.

Meta Platforms Stock Performance

NASDAQ META opened at $643.58 on Thursday. The firm’s fifty day moving average price is $577.74 and its two-hundred day moving average price is $610.01. The stock has a market cap of $1.62 trillion, a PE ratio of 26.91, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. Meta Platforms’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.71 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert M. Kimmitt sold 475 shares of Meta Platforms stock in a transaction on Monday, May 19th. The shares were sold at an average price of $628.25, for a total value of $298,418.75. Following the completion of the sale, the director now owns 10,272 shares in the company, valued at $6,453,384. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares of the company’s stock, valued at $2,265,707.52. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,628 shares of company stock valued at $34,826,386 over the last 90 days. 13.61% of the stock is 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.