Forte Capital LLC ADV Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Forte Capital LLC ADV raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,341 shares of the social networking company’s stock after acquiring an additional 455 shares during the period. Forte Capital LLC ADV’s holdings in Meta Platforms were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in META. Stratos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 15.1% during the third quarter. Stratos Wealth Advisors LLC now owns 36,261 shares of the social networking company’s stock worth $10,886,000 after purchasing an additional 4,763 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its position in Meta Platforms by 4.7% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 4,369 shares of the social networking company’s stock worth $1,312,000 after acquiring an additional 197 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Meta Platforms by 4.2% in the 3rd quarter. Independent Advisor Alliance now owns 56,913 shares of the social networking company’s stock worth $17,086,000 after acquiring an additional 2,284 shares during the period. Hanson & Doremus Investment Management grew its position in 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 acquiring an additional 56 shares in the last quarter. Finally, Center for Financial Planning Inc. lifted its position in shares of Meta Platforms by 17.3% during the third quarter. Center for Financial Planning Inc. now owns 962 shares of the social networking company’s stock worth $289,000 after purchasing an additional 142 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the sale, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,257,876 shares of company stock worth $613,168,252. 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 midday trading on Friday, hitting $451.96. 16,489,057 shares of the stock were exchanged, compared to its average volume of 20,698,000. The business’s fifty day simple moving average is $490.72 and its two-hundred day simple moving average is $408.34. 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, 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 PE ratio of 25.96, a P/E/G ratio of 1.15 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping 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 net margin of 32.06% and a return on equity of 32.03%. As a group, research analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target 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. Canaccord Genuity Group dropped their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Tigress Financial lifted their price objective on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Finally, Raymond James reduced their target price on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. Two 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.