Beverly Hills Private Wealth LLC Acquires 1,197 Shares of Meta Platforms, Inc. (NASDAQ:META)

Beverly Hills Private Wealth LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 56.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,304 shares of the social networking company’s stock after acquiring an additional 1,197 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Meta Platforms were worth $1,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sageworth Trust Co bought a new position in Meta Platforms during the 1st quarter worth approximately $26,000. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $26,000. HBC Financial Services PLLC increased its stake in shares of Meta Platforms by 2,500.0% in the first quarter. HBC Financial Services PLLC now owns 130 shares of the social networking company’s stock worth $28,000 after buying an additional 125 shares during the period. Altshuler Shaham Ltd bought a new stake in Meta Platforms during the 2nd quarter valued at $30,000. Finally, Red Tortoise LLC boosted its position in Meta Platforms by 32.2% during the 1st quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock valued at $40,000 after buying an additional 46 shares during the period. 62.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 4,277 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $293.00, for a total transaction of $1,253,161.00. Following the transaction, the chief operating officer now directly owns 82,858 shares of the company’s stock, valued at $24,277,394. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Mark Zuckerberg sold 28,009 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $310.60, for a total transaction of $8,699,595.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 4,277 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $293.00, for a total value of $1,253,161.00. Following the sale, the chief operating officer now directly owns 82,858 shares in the company, valued at $24,277,394. The disclosure for this sale can be found here. Insiders sold a total of 124,341 shares of company stock worth $39,293,937 over the last three months. Corporate insiders own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. New Street Research upgraded shares of Meta Platforms from a “neutral” rating to a “buy” rating and set a $350.00 price objective on the stock in a research report on Tuesday, July 25th. Royal Bank of Canada restated an “outperform” rating and set a $400.00 price target on shares of Meta Platforms in a report on Thursday, October 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $385.00 price target on shares of Meta Platforms in a research note on Thursday, September 28th. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $350.00 to $375.00 in a research report on Thursday, July 27th. Finally, Evercore ISI increased their price target on shares of Meta Platforms from $350.00 to $435.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $348.26.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $336.31 on Wednesday. The firm has a 50 day moving average of $309.43 and a 200 day moving average of $291.02. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $864.27 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.09 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $108.32 and a 52 week high of $338.10.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 25th. The social networking company reported $4.39 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77. Meta Platforms had a net margin of 23.42% and a return on equity of 26.40%. The business had revenue of $34.15 billion during the quarter, compared to the consensus estimate of $33.58 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Meta Platforms, Inc. will post 14.18 earnings per share for the current fiscal year.

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.