FFT Wealth Management LLC Has $7.45 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

FFT Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,773 shares of the social networking company’s stock after purchasing an additional 377 shares during the period. Meta Platforms accounts for approximately 0.7% of FFT Wealth Management LLC’s portfolio, making the stock its 17th biggest position. FFT Wealth Management LLC’s holdings in Meta Platforms were worth $7,449,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Capital World Investors grew its position in Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital International Investors increased its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $11,285,855,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Loop Capital increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Guggenheim upped their target price on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Finally, Citigroup upped their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $503.18, for a total value of $8,404,112.36. Following the completion of the sale, the chief executive officer now directly owns 301,478 shares in the company, valued at $151,697,700.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $500.00, for a total transaction of $452,500.00. Following the sale, the insider now directly owns 40,560 shares of the company’s stock, valued at $20,280,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $503.18, for a total transaction of $8,404,112.36. Following the completion of the sale, the chief executive officer now directly owns 301,478 shares of the company’s stock, valued at approximately $151,697,700.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 390,072 shares of company stock worth $201,913,948. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 0.2 %

Shares of Meta Platforms stock opened at $512.74 on Thursday. The stock has a market capitalization of $1.30 trillion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $505.31 and a 200 day simple moving average of $493.77.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $3.23 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

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.