MinichMacGregor Wealth Management LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

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

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairfield Bush & CO. purchased a new position in shares of Meta Platforms in the 1st quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Meta Platforms by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after buying an additional 249,926 shares during the last quarter. Ergoteles LLC boosted its stake in shares of Meta Platforms by 284.0% in the 1st quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after buying an additional 2,482 shares during the last quarter. First Western Trust Bank purchased a new position in shares of Meta Platforms in the 1st quarter worth approximately $813,000. Finally, Oxford Financial Group Ltd. boosted its stake in shares of Meta Platforms by 26.9% in the 1st quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 60.92% of the company’s stock.

Insider Activity

In other news, CAO Susan J.S. Taylor sold 1,400 shares of the company’s stock in a transaction dated 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 directly owns 2,949 shares of the company’s stock, valued at $510,059.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 342 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $116.70, for a total value of $39,911.40. Following the completion of the transaction, the insider now directly owns 26,161 shares of the company’s stock, valued at $3,052,988.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Susan J.S. Taylor sold 1,400 shares of the stock in a transaction dated Thursday, February 16th. The stock was 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 directly owns 2,949 shares of the company’s stock, valued at $510,059.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,342 shares of company stock valued at $12,285,012. Insiders own 14.03% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Tigress Financial boosted their target price on Meta Platforms from $260.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 10th. Wells Fargo & Company boosted their target price on Meta Platforms from $250.00 to $280.00 in a research note on Thursday. Robert W. Baird boosted their target price on Meta Platforms from $205.00 to $220.00 in a research note on Wednesday. Oppenheimer lifted their price target on shares of Meta Platforms from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, SVB Securities lifted their price target on shares of Meta Platforms from $220.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.27.

Meta Platforms Stock Performance

NASDAQ META opened at $195.61 on Friday. The company has a 50-day simple moving average of $166.42 and a two-hundred day simple moving average of $140.33. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.08. Meta Platforms, Inc. has a 12-month low of $88.09 and a 12-month high of $236.86. The firm has a market cap of $507.15 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.89 and a beta of 1.18.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (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 period in the prior year, the business posted $3.67 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 9.95 EPS for the current year.

About Meta Platforms

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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.