FSB Premier Wealth Management Inc. Purchases 1,639 Shares of Meta Platforms, Inc. (NASDAQ:META)

FSB Premier Wealth Management Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 63.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,236 shares of the social networking company’s stock after purchasing an additional 1,639 shares during the quarter. Meta Platforms makes up about 1.0% of FSB Premier Wealth Management Inc.’s investment portfolio, making the stock its 28th largest holding. FSB Premier Wealth Management Inc.’s holdings in Meta Platforms were worth $2,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortem Financial Group LLC boosted its stake in Meta Platforms by 1.4% during the second quarter. Fortem Financial Group LLC now owns 7,045 shares of the social networking company’s stock worth $3,552,000 after acquiring an additional 97 shares in the last quarter. Archer Investment Corp lifted its holdings in shares of Meta Platforms by 0.5% during the second quarter. Archer Investment Corp now owns 8,259 shares of the social networking company’s stock valued at $4,164,000 after purchasing an additional 41 shares during the last quarter. Founders Financial Securities LLC boosted its position in shares of Meta Platforms by 13.3% in the 2nd quarter. Founders Financial Securities LLC now owns 8,332 shares of the social networking company’s stock worth $4,201,000 after purchasing an additional 977 shares in the last quarter. Oxinas Partners Wealth Management LLC grew its stake in shares of Meta Platforms by 125.9% in the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 2,322 shares of the social networking company’s stock worth $1,171,000 after buying an additional 1,294 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its position in Meta Platforms by 11.7% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 4,416 shares of the social networking company’s stock valued at $2,227,000 after buying an additional 462 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on META shares. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Robert W. Baird upped their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Bank of America raised their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer upped their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” 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-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $576.66.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now directly owns 38,722 shares in the company, valued at approximately $20,135,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. The disclosure for this sale can be found here. Insiders sold a total of 390,977 shares of company stock worth $202,384,548 over the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $500.27 on Friday. The stock has a market cap of $1.27 trillion, a P/E ratio of 28.73, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock’s fifty day moving average is $505.18 and its 200 day moving average is $494.12. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.