UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 280,357 Shares of Meta Platforms, Inc. (NASDAQ:META)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,007,308 shares of the social networking company’s stock after buying an additional 280,357 shares during the quarter. Meta Platforms makes up approximately 1.6% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 8th largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.47% of Meta Platforms worth $7,030,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Regent Peak Wealth Advisors LLC boosted its stake in shares of 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 worth $2,939,000 after buying an additional 277 shares during the last quarter. Fjell Capital LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $1,836,000. Opulen Financial Group LLC purchased a new position in Meta Platforms during the fourth quarter valued at approximately $325,000. Daner Wealth Management LLC bought a new stake in Meta Platforms during the fourth quarter valued at $334,000. Finally, Brooklyn Investment Group grew its holdings in shares of Meta Platforms by 4.1% during the fourth quarter. Brooklyn Investment Group now owns 9,222 shares of the social networking company’s stock worth $5,399,000 after purchasing an additional 360 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $640.43 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company’s 50-day simple moving average is $571.79 and its two-hundred day simple moving average is $607.61. The company has a market capitalization 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, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last released its 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 EPS. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on META shares. Rosenblatt Securities raised 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. Morgan Stanley lifted their price target on shares of Meta Platforms from $615.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Citigroup boosted their price objective on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Scotiabank decreased their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating on the stock in a report on Monday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $701.05.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 3,523 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. Insiders sold a total of 98,837 shares of company stock valued at $64,758,661 over the last 90 days. 13.71% of the stock is owned by company 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.