Connecticut Wealth Management LLC Has $2.20 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Connecticut Wealth Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 105.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,225 shares of the social networking company’s stock after buying an additional 3,193 shares during the period. Connecticut Wealth Management LLC’s holdings in Meta Platforms were worth $2,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 15.1% in the third quarter. Stratos Wealth Advisors LLC now owns 36,261 shares of the social networking company’s stock valued at $10,886,000 after buying an additional 4,763 shares during the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of Meta Platforms by 4.7% in the third quarter. Moody Lynn & Lieberson LLC now owns 4,369 shares of the social networking company’s stock valued at $1,312,000 after buying an additional 197 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Meta Platforms by 4.2% in the third quarter. Independent Advisor Alliance now owns 56,913 shares of the social networking company’s stock valued at $17,086,000 after buying an additional 2,284 shares during the last quarter. Hanson & Doremus Investment Management raised its holdings in shares of Meta Platforms by 15.1% in the third quarter. Hanson & Doremus Investment Management now owns 427 shares of the social networking company’s stock valued at $128,000 after buying an additional 56 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its holdings in shares of Meta Platforms by 17.3% in the third quarter. Center for Financial Planning Inc. now owns 962 shares of the social networking company’s stock valued at $289,000 after buying an additional 142 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the sale, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,257,876 shares of company stock valued at $613,168,252 in the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 2.3 %

Shares of NASDAQ META traded up $10.28 during trading hours on Friday, hitting $451.96. The company had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The stock has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.15 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. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The firm’s 50 day moving average is $490.72 and its 200-day moving average is $408.34.

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

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Mizuho boosted their price objective on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Susquehanna boosted their price objective on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Loop Capital dropped their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

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.