Kelleher Financial Advisors Has $6.26 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Kelleher Financial Advisors increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,408 shares of the social networking company’s stock after acquiring an additional 224 shares during the quarter. Meta Platforms makes up approximately 2.6% of Kelleher Financial Advisors’ holdings, making the stock its 7th biggest holding. Kelleher Financial Advisors’ holdings in Meta Platforms were worth $6,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of META. S.A. Mason LLC boosted its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its stake in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. grew its holdings in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. increased its stake in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares during the period. Finally, LongView Wealth Management lifted its holdings in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on META shares. Morgan Stanley raised their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Bank of America increased their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the transaction, the insider now directly owns 41,465 shares in the company, valued at approximately $19,778,805. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the completion of the sale, the chief executive officer now directly owns 531,884 shares in the company, valued at $274,643,622.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the completion of the sale, the insider now owns 41,465 shares of the company’s stock, valued at $19,778,805. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 388,078 shares of company stock worth $200,792,168. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META traded up $1.07 during mid-day trading on Friday, hitting $519.29. The company’s stock had a trading volume of 5,266,232 shares, compared to its average volume of 15,968,282. The firm has a 50-day simple moving average of $504.32 and a 200 day simple moving average of $492.38. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm 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. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23.

Meta Platforms (NASDAQ:META) last issued 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. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

About Meta Platforms

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.