Clifford Swan Investment Counsel LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Clifford Swan Investment Counsel LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,660 shares of the social networking company’s stock after selling 1,039 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Meta Platforms were worth $13,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Stone House Investment Management LLC grew its position in shares of Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $10.28 on Friday, reaching $451.96. The company’s stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. Meta Platforms, Inc. has a 52-week low of $229.85 and a 52-week high of $531.49. The company has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a PEG 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 stock has a 50-day moving average price of $490.72 and a 200-day moving average price of $409.58.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial dropped their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets increased their price objective on shares of Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Loop Capital cut their price target on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Activity

In related news, CEO Mark Zuckerberg sold 34,398 shares of Meta Platforms stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 34,398 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares in the company, valued at $15,794,965.15. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock worth $613,168,252 over the last three months. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.