Brady Family Wealth LLC Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Brady Family Wealth LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,409 shares of the social networking company’s stock after buying an additional 80 shares during the quarter. Brady Family Wealth LLC’s holdings in Meta Platforms were worth $499,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Donoghue Forlines LLC grew its stake in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the period. Daiwa Securities Group Inc. increased its holdings in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after buying an additional 32,423 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. raised its position in Meta Platforms by 400.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after acquiring an additional 2,000 shares during the period. Bank of Stockton raised its position in Meta Platforms by 9.2% in the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after acquiring an additional 400 shares during the period. Finally, Signify Wealth purchased a new position in Meta Platforms in the fourth quarter valued at about $228,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on META shares. JPMorgan Chase & Co. lowered their price target on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Oppenheimer dropped their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Roth Mkm upped their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Finally, Sanford C. Bernstein cut their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Price Performance

NASDAQ:META traded up $1.14 on Monday, reaching $473.05. 4,788,099 shares of the company’s stock traded hands, compared to its average volume of 17,652,137. The stock has a 50-day simple moving average of $486.26 and a 200-day simple moving average of $421.38. Meta Platforms, Inc. has a 12 month low of $244.95 and a 12 month high of $531.49. The firm has a market cap of $1.20 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.22 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 (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated 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 directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the sale, 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 through the SEC website. Also, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $466.08, for a total transaction of $45,253,105.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,015,222 shares of company stock worth $499,279,869. 13.71% of the stock is owned by insiders.

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.