MinichMacGregor Wealth Management LLC Invests $48,000 in Meta Platforms, Inc. (NASDAQ:META)

MinichMacGregor Wealth Management LLC acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 400 shares of the social networking company’s stock, valued at approximately $48,000.

Several other institutional investors and hedge funds have also recently modified their holdings of META. Renaissance Technologies LLC raised its position in shares of Meta Platforms by 310.7% during the 1st quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the social networking company’s stock valued at $667,302,000 after purchasing an additional 2,270,300 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in Meta Platforms in the 1st quarter valued at $402,287,000. Arrowstreet Capital Limited Partnership increased its holdings in Meta Platforms by 993.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 781,294 shares of the social networking company’s stock valued at $173,729,000 after acquiring an additional 709,818 shares during the last quarter. Theleme Partners LLP increased its holdings in Meta Platforms by 50.8% in the 2nd quarter. Theleme Partners LLP now owns 1,223,000 shares of the social networking company’s stock valued at $197,209,000 after acquiring an additional 412,000 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter valued at $40,981,000. 60.92% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 4.5 %

NASDAQ:META opened at $195.61 on Friday. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $236.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market cap of $507.15 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.89 and a beta of 1.18. The firm has a 50-day simple moving average of $166.42 and a 200-day simple moving average of $140.33.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.12 by $0.88. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The business had revenue of $32.17 billion during the quarter, compared to analyst estimates of $31.69 billion. During the same quarter in the previous year, the business posted $3.67 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities analysts anticipate that Meta Platforms, Inc. will post 9.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on META. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $150.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $164.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Cowen lifted their price target on shares of Meta Platforms from $135.00 to $175.00 and gave the company a “market perform” rating in a report on Thursday, February 2nd. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $150.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Meta Platforms from $250.00 to $280.00 in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.27.

Insider Activity

In other news, CAO Susan J.S. Taylor sold 1,400 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $172.96, for a total value of $242,144.00. Following the completion of the sale, the chief accounting officer now owns 2,949 shares in the company, valued at approximately $510,059.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Susan J.S. Taylor sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $172.96, for a total transaction of $242,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,949 shares in the company, valued at approximately $510,059.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 342 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $116.70, for a total transaction of $39,911.40. Following the transaction, the insider now owns 26,161 shares of the company’s stock, valued at approximately $3,052,988.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,342 shares of company stock worth $12,285,012. 14.03% of the stock is currently owned by corporate insiders.

Meta Platforms Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.