FSB Premier Wealth Management Inc. Has $2.14 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

FSB Premier Wealth Management Inc. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 63.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,236 shares of the social networking company's stock after purchasing an additional 1,639 shares during the quarter. Meta Platforms accounts for 1.0% of FSB Premier Wealth Management Inc.'s portfolio, making the stock its 28th largest holding. FSB Premier Wealth Management Inc.'s holdings in Meta Platforms were worth $2,136,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Quest Partners LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after purchasing an additional 44 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Cantor Fitzgerald started coverage on Meta Platforms in a report on Thursday. They issued an "overweight" rating and a $660.00 price target for the company. UBS Group upped their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Raymond James increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a "strong-buy" rating in a research note on Monday, July 1st. Wedbush restated an "outperform" rating and issued a $570.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus increased their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $576.66.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now directly owns 38,722 shares of the company's stock, valued at approximately $20,135,440. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Andrew Bosworth sold 5,057 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the completion of the transaction, 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. In the last three months, insiders have sold 390,977 shares of company stock valued at $202,384,548. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ:META traded down $16.59 during mid-day trading on Friday, reaching $500.27. 14,726,181 shares of the company's stock were exchanged, compared to its average volume of 15,876,303. 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 firm has a market capitalization of $1.27 trillion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The business's fifty day simple moving average is $505.18 and its two-hundred day simple moving average is $494.12.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 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 business's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms's payout ratio is 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.