Bogart Wealth LLC Buys 1,109 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bogart Wealth LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 22,585 shares of the social networking company’s stock after acquiring an additional 1,109 shares during the period. Bogart Wealth LLC’s holdings in Meta Platforms were worth $7,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Vanguard Group Inc. grew its holdings in shares of Meta Platforms by 1.0% during the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares during the last quarter. FMR LLC lifted its holdings in shares of Meta Platforms by 4.0% during the third 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. Morgan Stanley boosted its holdings in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares during the last quarter. Northern Trust Corp raised its stake in Meta Platforms by 4.3% during the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after buying an additional 946,871 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,324,745 shares of the social networking company’s stock valued at $4,716,427,000 after acquiring an additional 181,283 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on META shares. Robert W. Baird decreased their price target on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Oppenheimer lowered their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Rosenblatt Securities raised their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TD Cowen cut their price objective on Meta Platforms from $590.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $509.80.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction 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 owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders sold a total of 1,223,416 shares of company stock worth $597,392,856 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $0.74 on Thursday, reaching $473.34. The company’s stock had a trading volume of 2,697,034 shares, compared to its average volume of 18,044,432. Meta Platforms, Inc. has a 52-week low of $230.72 and a 52-week high of $531.49. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 27.15, a PEG ratio of 1.18 and a beta of 1.21. The stock’s 50-day moving average is $489.80 and its two-hundred day moving average is $412.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.1 EPS 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.