Eldridge Investment Advisors Inc. Sells 100 Shares of Meta Platforms, Inc. (NASDAQ:META)

Eldridge Investment Advisors Inc. decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 870 shares of the social networking company’s stock after selling 100 shares during the quarter. Eldridge Investment Advisors Inc.’s holdings in Meta Platforms were worth $308,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in META. Stone House Investment Management LLC boosted its position in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. PayPay Securities Corp boosted its position in Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on META. Morgan Stanley boosted their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. TD Cowen reduced their price target on shares of Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price target on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Barclays reduced their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.80.

Meta Platforms Stock Up 2.3 %

Shares of Meta Platforms stock traded up $10.28 on Friday, hitting $451.96. The company had a trading volume of 16,474,126 shares, compared to its average volume of 18,392,596. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 25.99, a P/E/G ratio of 1.14 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a 50-day moving average of $491.36 and a 200-day moving average of $407.43.

Meta Platforms (NASDAQ:META) last released its quarterly 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. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Research analysts predict that Meta Platforms, Inc. will post 20.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the 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 owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the completion of the transaction, the chief operating officer now owns 6,599 shares in the company, valued at $2,913,722.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the 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 sale, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,257,876 shares of company stock worth $613,168,252. 13.71% of the stock is owned by insiders.

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.