First Horizon Advisors Inc. Acquires 183 Shares of Meta Platforms, Inc. (NASDAQ:META)

First Horizon Advisors Inc. raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,058 shares of the social networking company’s stock after purchasing an additional 183 shares during the period. First Horizon Advisors Inc.’s holdings in Meta Platforms were worth $3,914,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Stone House Investment Management LLC lifted its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp raised its holdings in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms in the fourth quarter worth approximately $39,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. KeyCorp reduced their target price on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets increased their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Oppenheimer decreased their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Barclays dropped their price objective on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Morgan Stanley lifted their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Trading Up 2.3 %

NASDAQ:META traded up $10.28 during midday trading on Friday, hitting $451.96. 16,474,126 shares of the company traded hands, compared to its average volume of 18,392,596. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 25.99, a P/E/G ratio of 1.14 and a beta of 1.21. The firm’s fifty day moving average is $491.36 and its 200-day moving average is $407.43. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the sale, the chief operating officer now directly owns 79,944 shares in the company, valued at $39,015,070.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now directly owns 34,168 shares in the company, valued at $15,853,952. The disclosure for this sale can be found here. Insiders sold a total of 1,257,876 shares of company stock valued at $613,168,252 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.