Total Clarity Wealth Management Inc. Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Total Clarity Wealth Management Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,697 shares of the social networking company’s stock after acquiring an additional 30 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Meta Platforms were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of META. Quest Partners LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC raised its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.3 %

Shares of META opened at $537.95 on Thursday. The stock has a 50 day moving average price of $505.40 and a 200 day moving average price of $496.34. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. 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 has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

Several research firms have weighed in on META. Susquehanna boosted their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Raymond James increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Wedbush restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. UBS Group increased their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Guggenheim boosted their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares in the company, valued at $7,744,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at $19,258,362.50. The disclosure for this sale can be found here. Insiders have sold 357,575 shares of company stock valued at $185,595,945 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms 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.