Meta Platforms, Inc. (NASDAQ:META) Position Lowered by Vanguard Capital Wealth Advisors

Vanguard Capital Wealth Advisors cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,942 shares of the social networking company’s stock after selling 224 shares during the quarter. Meta Platforms comprises about 2.5% of Vanguard Capital Wealth Advisors’ portfolio, making the stock its 6th largest holding. Vanguard Capital Wealth Advisors’ holdings in Meta Platforms were worth $2,308,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC increased its stake in Meta Platforms by 1.4% in the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after buying an additional 897 shares in the last quarter. Suvretta Capital Management LLC increased its stake in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after buying an additional 1,850 shares during the period. Skye Global Management LP boosted its stake 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 valued at $44,616,000 after buying an additional 43,200 shares during the last quarter. Finally, Brueske Advisory Services LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $459,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Susquehanna cut their price objective on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on Meta Platforms from $624.00 to $676.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, BMO Capital Markets raised their target price on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $701.05.

Meta Platforms Stock Up 0.0%

Shares of Meta Platforms stock opened at $640.43 on Tuesday. The business has a 50-day moving average price of $571.79 and a 200 day moving average price of $607.61. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market cap 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.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The firm had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer now directly owns 1,183 shares of the company’s stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 19,668 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $703.21, for a total transaction of $13,830,734.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,837 shares of company stock worth $64,758,661. Company insiders own 13.71% of the company’s stock.

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.