TCI Wealth Advisors Inc. Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

TCI Wealth Advisors Inc. lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,612 shares of the social networking company’s stock after selling 181 shares during the period. TCI Wealth Advisors Inc.’s holdings in Meta Platforms were worth $1,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Daiwa Securities Group Inc. grew its holdings in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after purchasing an additional 32,423 shares during the last quarter. Bank of Stockton increased its holdings in Meta Platforms by 9.2% during the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the period. Signify Wealth bought a new position in Meta Platforms during the 4th quarter valued at approximately $228,000. Illinois Municipal Retirement Fund lifted its holdings in Meta Platforms by 1.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 223,788 shares of the social networking company’s stock worth $79,212,000 after buying an additional 4,025 shares during the period. Finally, Investment Research & Advisory Group Inc. grew its position in shares of Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock worth $3,880,000 after buying an additional 164 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Susquehanna raised their price target on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a research note on Friday, February 2nd. Bank of America increased their price target on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Raymond James cut their price objective on Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. Morgan Stanley raised their target price on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, TD Cowen dropped their price target on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,876 shares of company stock valued at $613,168,252 in the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

Shares of META traded up $10.28 during mid-day trading on Friday, reaching $451.96. The stock had a trading volume of 16,489,057 shares, compared to its average volume of 20,698,000. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $229.85 and a 12 month high of $531.49. The business has a fifty day moving average of $490.72 and a 200 day moving average of $409.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts predict 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.