Avidian Wealth Solutions LLC Has $3.21 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Avidian Wealth Solutions LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,058 shares of the social networking company’s stock after purchasing an additional 438 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Meta Platforms were worth $3,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. FMR LLC grew its holdings in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the period. International Assets Investment Management LLC lifted its position in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Concentrum Wealth Management boosted its stake in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Meta Platforms by 55.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock worth $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Meta Platforms by 1,457.5% in the 4th quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock valued at $1,117,225,000 after acquiring an additional 2,953,704 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on META. Bank of America upped their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Barclays decreased their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Wolfe Research reduced their price objective on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Jefferies Financial Group lowered their target price on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Trading Up 2.3 %

NASDAQ:META traded up $10.28 during mid-day trading on Friday, hitting $451.96. 16,489,057 shares of the company’s stock were exchanged, compared to its average volume of 20,698,000. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49. The company has a 50 day simple moving average of $490.72 and a 200-day simple moving average of $408.34. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21.

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

Insider Activity

In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Friday, February 23rd. The stock was 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 accessible through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,257,876 shares of company stock valued at $613,168,252. Company insiders own 13.71% of the company’s stock.

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.