Advisor Resource Council purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,110 shares of the social networking company's stock, valued at approximately $1,457,000. Meta Platforms makes up about 0.7% of Advisor Resource Council's holdings, making the stock its 19th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Horan Securities Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $27,000. Glassy Mountain Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter worth $28,000. MADDEN SECURITIES Corp purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $31,000. Armstrong Advisory Group Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at $36,000. Finally, PFG Private Wealth Management LLC acquired a new stake in Meta Platforms during the 4th quarter worth $38,000. 60.92% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.17 during trading on Wednesday, hitting $204.85. 7,960,183 shares of the company traded hands, compared to its average volume of 32,528,320. The stock has a market capitalization of $531.10 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.85 and a beta of 1.18. The business's fifty day moving average is $175.86 and its 200-day moving average is $142.01. Meta Platforms, Inc. has a one year low of $88.09 and a one year high of $236.86. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.08.

Meta Platforms (NASDAQ:META – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The social networking company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.88. Meta Platforms had a return on equity of 21.23% and a net margin of 19.90%. The business had revenue of $32.17 billion during the quarter, compared to analyst estimates of $31.69 billion. During the same period in the prior year, the company posted $3.67 EPS. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities analysts predict that Meta Platforms, Inc. will post 10.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 393 shares of the business's stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $203.26, for a total value of $79,881.18. Following the transaction, the insider now directly owns 30,546 shares in the company, valued at $6,208,779.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Meta Platforms news, insider Jennifer Newstead sold 393 shares of the business's stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $203.26, for a total value of $79,881.18. Following the completion of the transaction, the insider now directly owns 30,546 shares of the company's stock, valued at $6,208,779.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Susan J.S. Taylor sold 1,400 shares of the business's stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $172.96, for a total transaction of $242,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,949 shares of the company's stock, valued at $510,059.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,051 shares of company stock worth $12,285,159. 14.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Meta Platforms from $170.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, February 2nd. Loop Capital boosted their price objective on shares of Meta Platforms from $188.00 to $220.00 in a research report on Monday, March 20th. Evercore ISI boosted their price objective on shares of Meta Platforms from $275.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, March 14th. Bank of America boosted their price objective on Meta Platforms from $220.00 to $230.00 in a research note on Tuesday, March 14th. Finally, TheStreet raised Meta Platforms from a "c" rating to a "b-" rating in a report on Monday, March 20th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $212.96.

About Meta Platforms

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Meta Platforms, Inc, engages in the development of social media applications. It builds technology that helps people connect, find communities, and grow businesses. It operates through the Family of Apps (FoA) and Reality Labs (RL) segments. The FoA segment consists of Facebook, Instagram, Messenger, WhatsApp, and other services.

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