Fi3 FINANCIAL ADVISORS LLC Lowers Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fi3 FINANCIAL ADVISORS LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,570 shares of the social networking company’s stock after selling 54 shares during the quarter. Meta Platforms accounts for about 0.4% of Fi3 FINANCIAL ADVISORS LLC’s holdings, making the stock its 26th biggest position. Fi3 FINANCIAL ADVISORS LLC’s holdings in Meta Platforms were worth $910,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after acquiring 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% during the 4th 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 acquiring an additional 4,908,251 shares during the period. Concentrum Wealth Management lifted its position 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 valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Meta Platforms by 1,457.5% during 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. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $10.28 during midday trading on Friday, reaching $451.96. 16,489,057 shares of the company’s stock were exchanged, compared to its average volume of 20,698,000. The company’s 50 day simple moving average is $490.72 and its two-hundred day simple moving average is $408.34. The firm has a market capitalization of $1.15 trillion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

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, topping analysts’ consensus estimates 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 net margin of 32.06% and a return on equity of 32.03%. Equities research analysts expect that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total value of $256,128.00. Following the completion of the sale, the insider now owns 34,168 shares in the company, valued at approximately $15,853,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 34,398 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total transaction of $15,737,772.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 552 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. 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 ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on META shares. Wells Fargo & Company reduced their price target 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. Citigroup cut their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, Roth Mkm lifted their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

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.