2,745 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Beacon Investment Advisory Services Inc.

Posted by on Mar 24th, 2023

Beacon Investment Advisory Services Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,745 shares of the social networking company’s stock, valued at approximately $330,000.

Other large investors have also recently added to or reduced their stakes in the company. First Heartland Consultants Inc. acquired a new stake in Meta Platforms in the fourth quarter worth $514,000. Merit Financial Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $6,126,000. Cohen Klingenstein LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $9,940,000. Gofen & Glossberg LLC IL acquired a new position in shares of Meta Platforms during the fourth quarter valued at $16,251,000. Finally, Burns J W & Co. Inc. NY acquired a new position in shares of Meta Platforms during the fourth quarter valued at $1,839,000. 60.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 393 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $203.26, for a total transaction of $79,881.18. Following the transaction, the insider now directly owns 30,546 shares in the company, valued at $6,208,779.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jennifer Newstead sold 393 shares of the business’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $203.26, for a total transaction of $79,881.18. Following the transaction, the insider now directly owns 30,546 shares in the company, valued at approximately $6,208,779.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,400 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $172.96, for a total transaction of $242,144.00. Following the completion of the sale, the chief accounting officer now owns 2,949 shares of the company’s stock, valued at $510,059.04. The disclosure for this sale can be found here. Insiders have sold 68,393 shares of company stock valued at $12,324,981 in the last 90 days. 14.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James raised their price target on Meta Platforms from $220.00 to $238.00 and gave the company an “outperform” rating in a report on Tuesday, March 14th. The Goldman Sachs Group raised their price target on Meta Platforms from $164.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Oppenheimer lifted their target price on Meta Platforms from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, March 15th. Tigress Financial lifted their target price on Meta Platforms from $260.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Friday, February 10th. Finally, TheStreet raised Meta Platforms from a “c” rating to a “b-” rating in a report on Monday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have assigned a buy rating and one has 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 a consensus price target of $211.19.

Meta Platforms Stock Performance

Shares of META stock opened at $204.28 on Friday. Meta Platforms, Inc. has a 12 month low of $88.09 and a 12 month high of $236.86. The company’s fifty day simple moving average is $171.86 and its 200-day simple moving average is $141.43. The firm has a market cap of $529.62 billion, a PE ratio of 23.81, a P/E/G ratio of 1.79 and a beta of 1.18. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.08.

Meta Platforms (NASDAQ:META – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.88. The company had revenue of $32.17 billion during the quarter, compared to the consensus estimate of $31.69 billion. Meta Platforms had a net margin of 19.90% and a return on equity of 21.23%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 10.44 EPS for the current fiscal year.

Meta Platforms Company Profile

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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