Clear Investment Research LLC Has $61,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Clear Investment Research LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 25.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 120 shares of the social networking company’s stock after acquiring an additional 24 shares during the period. Clear Investment Research LLC’s holdings in Meta Platforms were worth $61,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% in 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 during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $32,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the topic of a number of research analyst reports. Bank of America increased their price target on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their target price on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim raised their price objective 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Stock Up 0.6 %

Meta Platforms stock opened at $536.32 on Wednesday. The stock has a market capitalization of $1.36 trillion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $505.34 and a 200-day moving average of $496.05.

Meta Platforms (NASDAQ:META) 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. 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 company posted $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 0.37%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares in the company, valued at $2,573,817. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,987 shares of company stock worth $185,802,769. 13.71% of the stock is owned by 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.