Apollon Wealth Management LLC Acquires 11,346 Shares of Meta Platforms, Inc. (NASDAQ:META)

Apollon Wealth Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 42.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,782 shares of the social networking company’s stock after purchasing an additional 11,346 shares during the quarter. Apollon Wealth Management LLC’s holdings in Meta Platforms were worth $13,373,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bouchey Financial Group Ltd boosted its stake in Meta Platforms by 26.4% in the 3rd quarter. Bouchey Financial Group Ltd now owns 1,301 shares of the social networking company’s stock valued at $391,000 after buying an additional 272 shares in the last quarter. Guyasuta Investment Advisors Inc. increased its holdings in Meta Platforms by 2.7% in the third quarter. Guyasuta Investment Advisors Inc. now owns 5,915 shares of the social networking company’s stock valued at $1,776,000 after purchasing an additional 155 shares during the last quarter. Gradient Capital Advisors LLC increased its holdings in Meta Platforms by 0.7% in the third quarter. Gradient Capital Advisors LLC now owns 5,507 shares of the social networking company’s stock valued at $1,653,000 after purchasing an additional 40 shares during the last quarter. BLB&B Advisors LLC increased its holdings in Meta Platforms by 42.6% in the third quarter. BLB&B Advisors LLC now owns 3,165 shares of the social networking company’s stock valued at $950,000 after purchasing an additional 945 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Meta Platforms by 10.3% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,624 shares of the social networking company’s stock valued at $788,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.5 %

META traded up $2.56 during midday trading on Tuesday, reaching $468.24. 13,382,768 shares of the company were exchanged, compared to its average volume of 18,298,424. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The company’s fifty day moving average price is $490.40 and its 200 day moving average price is $410.65. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $230.27 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, analysts expect that Meta Platforms, Inc. will post 20.1 EPS for the current year.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 97,093 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The disclosure for this sale can be found here. Insiders have sold 1,222,926 shares of company stock worth $597,174,351 in the last 90 days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on META shares. Canaccord Genuity Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Guggenheim cut their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price objective on Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company lowered their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, TD Cowen lowered their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $509.80.

Meta Platforms Company 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.