White Wing Wealth Management Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

White Wing Wealth Management bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 415 shares of the social networking company’s stock, valued at approximately $209,000. Meta Platforms comprises approximately 0.2% of White Wing Wealth Management’s portfolio, making the stock its 29th largest position.

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

Analysts Set New Price Targets

A number of research firms have issued reports on META. Barclays boosted their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Price Performance

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

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

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 owns 301,478 shares in the company, valued at approximately $151,697,700.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 301,478 shares of the company’s stock, valued at approximately $151,697,700.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,072 shares of company stock valued at $201,913,948. 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.