Walled Lake Planning & Wealth Management LLC Decreases Stock Position in Meta Platforms, Inc. (NASDAQ:FB)

Walled Lake Planning & Wealth Management LLC lessened its position in Meta Platforms, Inc. (NASDAQ:FBGet Rating) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the social networking company’s stock after selling 123 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in Meta Platforms were worth $590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barnett & Company Inc. lifted its position in Meta Platforms by 105.0% during the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after buying an additional 42 shares in the last quarter. Evolution Advisers Inc. purchased a new position in Meta Platforms during the fourth quarter worth approximately $48,000. Horan Securities Inc. purchased a new position in Meta Platforms during the fourth quarter worth approximately $53,000. Maryland Capital Advisors Inc. purchased a new position in Meta Platforms during the fourth quarter worth approximately $58,000. Finally, Leverty Financial Group LLC purchased a new stake in Meta Platforms in the fourth quarter valued at $60,000. Institutional investors and hedge funds own 65.49% of the company’s stock.

Shares of Meta Platforms stock traded up $7.38 on Friday, hitting $198.62. The stock had a trading volume of 24,524,937 shares, compared to its average volume of 38,863,792. Meta Platforms, Inc. has a 52-week low of $169.00 and a 52-week high of $384.33. The stock has a market cap of $537.53 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.19 and a beta of 1.37. The company’s 50 day moving average price is $207.75 and its 200 day moving average price is $268.60.

Meta Platforms (NASDAQ:FBGet Rating) last posted its earnings results on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period in the prior year, the company posted $3.30 earnings per share. As a group, research analysts predict that Meta Platforms, Inc. will post 11.63 EPS for the current fiscal year.

In other Meta Platforms news, insider Jennifer Newstead sold 311 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total transaction of $62,075.60. Following the completion of the sale, the insider now directly owns 12,187 shares of the company’s stock, valued at approximately $2,432,525.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Wehner sold 1,095 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $217.70, for a total value of $238,381.50. The disclosure for this sale can be found here. Insiders sold a total of 8,768 shares of company stock valued at $1,858,518 over the last three months. Company insiders own 13.59% of the company’s stock.

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their target price on Meta Platforms from $290.00 to $225.00 in a research report on Friday, April 22nd. Sanford C. Bernstein reduced their target price on Meta Platforms from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, February 3rd. KeyCorp reduced their target price on Meta Platforms from $420.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. Piper Sandler reduced their target price on Meta Platforms from $240.00 to $230.00 in a research report on Thursday, April 28th. Finally, Canaccord Genuity Group reduced their target price on Meta Platforms from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Buy” and an average target price of $316.80.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, 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, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:FB)

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