Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,688 shares of the social networking company’s stock after purchasing an additional 62 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Meta Platforms were worth $2,364,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Baird Financial Group Inc. increased its position in shares of Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System grew its holdings in shares of Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Donoghue Forlines LLC grew its holdings in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Voyager Global Management LP grew its holdings in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Meta Platforms by 400.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after acquiring an additional 2,000 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total transaction of $452,500.00. Following the completion of the transaction, the insider now owns 40,560 shares of the company’s stock, valued at approximately $20,280,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total value of $452,500.00. Following the transaction, the insider now owns 40,560 shares in the company, valued at $20,280,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 387,173 shares of company stock valued at $200,360,483. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $521.31 on Tuesday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The business has a 50-day moving average of $505.30 and a two-hundred day moving average of $493.37. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 29.94, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Sanford C. Bernstein lifted their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

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.