Foresight Global Investors Inc. Takes $1.01 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Foresight Global Investors Inc. bought a new position in Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,000 shares of the social networking company’s stock, valued at approximately $1,008,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Vantage Financial Partners LLC lifted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after acquiring an additional 41 shares in the last quarter. Concentrum Wealth Management grew its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC raised its stake in Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares during the period. 9258 Wealth Management LLC lifted its holdings in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Rollins Financial boosted its stake in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after purchasing an additional 2,133 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on META shares. TD Securities lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein lifted their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $577.26.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the transaction, the insider now owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,426 shares of company stock worth $185,053,425. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 3.9 %

Shares of NASDAQ:META opened at $559.10 on Friday. The business’s 50 day moving average is $505.40 and its 200 day moving average is $496.34. The stock has a market cap of $1.42 trillion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $562.07. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is presently 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.