Vienna Asset Management LLC Acquires 498 Shares of Meta Platforms, Inc. (NASDAQ:META)

Vienna Asset Management LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,621 shares of the social networking company’s stock after buying an additional 498 shares during the quarter. Meta Platforms comprises 2.2% of Vienna Asset Management LLC’s portfolio, making the stock its 17th largest holding. Vienna Asset Management LLC’s holdings in Meta Platforms were worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of META. Millstone Evans Group LLC bought a new position in Meta Platforms during the fourth quarter valued at $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $59,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $640.34 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a 50 day simple moving average of $571.37 and a two-hundred day simple moving average of $607.10. The stock has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating 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 business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the previous year, the business posted $4.71 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares in the company, valued at $13,525,441.26. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 406 shares of the business’s 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 transaction, the chief operating officer now owns 4,608 shares of the company’s stock, valued at approximately $2,265,707.52. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,852 shares of company stock worth $41,665,958. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on META. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Piper Sandler raised their target price on shares of Meta Platforms from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Cantor Fitzgerald raised their target price on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, KeyCorp raised their target price on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. One equities research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $701.05.

About Meta Platforms

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.