International Assets Investment Management LLC Sells 30,012 Shares of Meta Platforms, Inc. (NASDAQ:META)

International Assets Investment Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 68.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,991 shares of the social networking company’s stock after selling 30,012 shares during the period. International Assets Investment Management LLC’s holdings in Meta Platforms were worth $4,952,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC grew its holdings in shares of Meta Platforms by 1.8% in the third quarter. Waldron Private Wealth LLC now owns 28,961 shares of the social networking company’s stock valued at $8,694,000 after acquiring an additional 517 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Meta Platforms by 3.4% in the third quarter. Chicago Partners Investment Group LLC now owns 11,134 shares of the social networking company’s stock valued at $3,496,000 after purchasing an additional 368 shares during the last quarter. Advisor Partners II LLC lifted its position in shares of Meta Platforms by 6.8% during the third quarter. Advisor Partners II LLC now owns 104,094 shares of the social networking company’s stock worth $31,250,000 after acquiring an additional 6,606 shares in the last quarter. Peoples Bank OH lifted its position in shares of Meta Platforms by 3.5% during the third quarter. Peoples Bank OH now owns 3,656 shares of the social networking company’s stock worth $1,098,000 after acquiring an additional 123 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Meta Platforms by 1.0% during the third quarter. Park Avenue Securities LLC now owns 43,980 shares of the social networking company’s stock worth $13,203,000 after acquiring an additional 448 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. Raymond James reduced their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. Monness Crespi & Hardt raised their price objective on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Barclays reduced their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Guggenheim reduced their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, BNP Paribas initiated coverage on Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Price Performance

Shares of META opened at $472.60 on Thursday. The company has a market capitalization of $1.20 trillion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $490.03 and a 200 day moving average of $411.78. Meta Platforms, Inc. has a twelve month low of $230.72 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,223,416 shares of company stock valued at $597,392,856 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.