Nations Financial Group Inc. IA ADV Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nations Financial Group Inc. IA ADV raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 29.9% in the second quarter, Holdings Channel.com reports. The fund owned 18,763 shares of the social networking company’s stock after buying an additional 4,319 shares during the quarter. Meta Platforms comprises approximately 0.8% of Nations Financial Group Inc. IA ADV’s holdings, making the stock its 22nd largest position. Nations Financial Group Inc. IA ADV’s holdings in Meta Platforms were worth $9,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of META. Quest Partners LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,078 shares of company stock worth $200,792,168. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META stock traded up $3.09 during mid-day trading on Friday, reaching $521.31. The company had a trading volume of 9,153,468 shares, compared to its average volume of 15,991,408. The stock’s 50-day simple moving average is $504.32 and its two-hundred day simple moving average is $492.38. The stock has a market capitalization of $1.32 trillion, a P/E ratio of 29.85, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. TD Cowen boosted their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Evercore ISI lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Bank of America upped their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

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.