Obermeyer Wood Investment Counsel Lllp Acquires 3,033 Shares of Meta Platforms, Inc. (NASDAQ:META)

Obermeyer Wood Investment Counsel Lllp raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 87,581 shares of the social networking company's stock after acquiring an additional 3,033 shares during the period. Meta Platforms accounts for about 2.5% of Obermeyer Wood Investment Counsel Lllp's holdings, making the stock its 12th biggest position. Obermeyer Wood Investment Counsel Lllp's holdings in Meta Platforms were worth $44,160,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vantage Financial Partners LLC increased its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company's stock worth $468,000 after buying an additional 41 shares during the last quarter. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% in 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. Aveo Capital Partners LLC increased its holdings in Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company's stock valued at $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company's stock valued at $1,413,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Rollins Financial increased its holdings in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company's stock valued at $10,851,000 after purchasing an additional 2,133 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. BMO Capital Markets reissued a "market perform" rating and issued a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Sanford C. Bernstein upped their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an "outperform" rating and a $620.00 price objective for the company. Finally, KeyCorp upped their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $574.41.

Meta Platforms Trading Up 0.2 %

NASDAQ META traded up $0.98 on Wednesday, hitting $512.74. 8,324,718 shares of the stock were exchanged, compared to its average volume of 15,925,534. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.29 and a beta of 1.21. The company's 50-day moving average price is $505.31 and its two-hundred day moving average price is $493.77.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts' expectations of $38.26 billion. During the same period in the previous year, the company posted $3.23 EPS. Meta Platforms's revenue was up 22.1% on a year-over-year basis. Research analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current year.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company's stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 392,495 shares of company stock valued at $203,124,406. Insiders own 13.71% of the company's stock.

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.