Quadcap Wealth Management LLC Purchases 172 Shares of Meta Platforms, Inc. (NASDAQ:META)

Quadcap Wealth Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,839 shares of the social networking company’s stock after purchasing an additional 172 shares during the quarter. Meta Platforms makes up 1.0% of Quadcap Wealth Management LLC’s holdings, making the stock its 17th largest position. Quadcap Wealth Management LLC’s holdings in Meta Platforms were worth $6,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Meta Platforms in the 4th quarter valued at about $19,949,512,000. Proficio Capital Partners LLC grew its stake in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Northern Trust Corp grew its position in shares of Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on META shares. Barclays decreased their target price on shares of Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Roth Capital increased their target price on shares of Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Raymond James decreased their target price on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald increased their price target on shares of Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $696.45.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,932 shares of company stock worth $69,021,252. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Up 0.5%

NASDAQ META opened at $659.36 on Thursday. The business has a 50 day simple moving average of $569.76 and a 200 day simple moving average of $605.94. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 27.57, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $41.45 billion. During the same quarter last year, the company earned $4.71 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

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.