Clarity Wealth Advisors LLC Has $5.61 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Clarity Wealth Advisors LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,542 shares of the social networking company’s stock after selling 147 shares during the period. Meta Platforms makes up about 1.9% of Clarity Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Clarity Wealth Advisors LLC’s holdings in Meta Platforms were worth $5,605,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of META. Beaird Harris Wealth Management LLC lifted its holdings 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 during the period. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Cranbrook Wealth Management LLC lifted its holdings 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 during the period. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now owns 74,580 shares of the company’s stock, valued at approximately $35,190,573. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,557 shares of company stock worth $97,894,296. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $504.22 on Monday. The firm has a 50-day moving average of $480.00 and a 200-day moving average of $455.62. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a market cap of $1.28 trillion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

Several equities analysts recently weighed in on META shares. Robert W. Baird cut their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus increased their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup cut their target price on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Barclays cut their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Finally, UBS Group cut their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $510.05.

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.