Founders Financial Alliance LLC Purchases 94 Shares of Meta Platforms, Inc. (NASDAQ:META)

Founders Financial Alliance LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,967 shares of the social networking company’s stock after acquiring an additional 94 shares during the quarter. Founders Financial Alliance LLC’s holdings in Meta Platforms were worth $1,404,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of META. Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $11,285,855,000. FMR LLC increased its holdings in Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares in the last quarter. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Meta Platforms by 55.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after purchasing an additional 3,093,715 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $486.18, for a total value of $37,636,166.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 886,466 shares of company stock valued at $438,582,433 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Citigroup lowered their target price on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus lifted their target price on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets lifted their target price on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Finally, Tigress Financial lifted their target price on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Meta Platforms Trading Up 2.7 %

Meta Platforms stock traded up $12.44 during trading hours on Friday, reaching $478.22. 12,012,375 shares of the company’s stock were exchanged, compared to its average volume of 17,476,635. The firm has a market capitalization of $1.21 trillion, a PE ratio of 27.47, a PEG ratio of 1.21 and a beta of 1.21. The firm’s 50 day simple moving average is $484.07 and its 200 day simple moving average is $425.28. 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, Inc. has a twelve month low of $249.17 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Research analysts predict that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

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.