Meta Platforms, Inc. (NASDAQ:META) Position Increased by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,083 shares of the social networking company’s stock after acquiring an additional 363 shares during the period. Meta Platforms accounts for approximately 1.5% of Kolinsky Wealth Management LLC’s holdings, making the stock its 12th largest position. Kolinsky Wealth Management LLC’s holdings in Meta Platforms were worth $2,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Valley Financial Group Inc. lifted its position in shares of Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after acquiring an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC grew its position in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock valued at $1,743,000 after purchasing an additional 14 shares in the last quarter. Seelaus Asset Management LLC raised its stake in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning lifted its holdings in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Finally, Maiden Cove Capital LLC lifted its holdings in Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.5%

NASDAQ:META opened at $637.10 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $572.72 and its two-hundred day moving average is $607.81. The company has a market cap of $1.60 trillion, a PE ratio of 26.63, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on META shares. Bank of America lifted their price target on Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Monness Crespi & Hardt increased their target price on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Pivotal Research reduced their price target on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. UBS Group raised their target price on shares of Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Argus set a $775.00 price target on shares of Meta Platforms in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $701.05.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares in the company, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares in the company, valued at approximately $209,199,589.06. This represents a 6.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,169 shares of company stock worth $50,927,926. 13.71% of the stock is currently owned by company insiders.

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.