Drucker Wealth 3.0 LLC Purchases 463 Shares of Meta Platforms, Inc. (NASDAQ:META)

Drucker Wealth 3.0 LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,486 shares of the social networking company’s stock after acquiring an additional 463 shares during the period. Meta Platforms accounts for 1.3% of Drucker Wealth 3.0 LLC’s holdings, making the stock its 21st largest holding. Drucker Wealth 3.0 LLC’s holdings in Meta Platforms were worth $5,554,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms in the 4th quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Meta Platforms in the 4th quarter worth $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.5%

META opened at $627.06 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $574.80 and a 200-day moving average price of $608.90. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.71 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total value of $613,155.75. Following the completion of the transaction, the insider now directly owns 34,866 shares in the company, valued at $23,212,039.50. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $686.28, for a total transaction of $417,258.24. Following the transaction, the chief operating officer now owns 9,270 shares of the company’s stock, valued at approximately $6,361,815.60. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,157 shares of company stock worth $49,411,000. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

META has been the topic of a number of research reports. Barclays cut 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 note on Thursday, May 1st. Benchmark cut their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Mizuho lifted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Citigroup lifted their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Oppenheimer lifted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. One investment 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $701.05.

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.