Visionary Wealth Advisors Buys 319 Shares of Meta Platforms, Inc. (NASDAQ:META)

Visionary Wealth Advisors grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the social networking company’s stock after buying an additional 319 shares during the period. Visionary Wealth Advisors’ holdings in Meta Platforms were worth $5,562,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its holdings in Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company’s stock valued at $2,939,000 after acquiring an additional 277 shares during the period. Fjell Capital LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $1,836,000. Opulen Financial Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $325,000. Daner Wealth Management LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $334,000. Finally, Eagle Rock Investment Company LLC lifted its holdings in Meta Platforms by 5.7% in the 4th quarter. Eagle Rock Investment Company LLC now owns 30,644 shares of the social networking company’s stock worth $17,942,000 after buying an additional 1,648 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.5%

META opened at $640.34 on Monday. The stock has a market cap of $1.61 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.42 and a beta of 1.24. The stock’s 50 day moving average price is $571.37 and its 200-day moving average price is $607.10. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter in the prior year, the firm earned $4.71 earnings per share. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Insiders Place Their Bets

In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 907 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $645.77, for a total value of $585,713.39. Following the completion of the transaction, the insider now directly owns 24,749 shares in the company, valued at approximately $15,982,161.73. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,852 shares of company stock worth $41,665,958 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several research analyst reports. Pivotal Research dropped their price objective on Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Robert W. Baird raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four 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 currently has a consensus rating of “Moderate Buy” and an average target price of $701.05.

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.