Foguth Wealth Management LLC. Has $314,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Foguth Wealth Management LLC. lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 623 shares of the social networking company’s stock after selling 158 shares during the period. Foguth Wealth Management LLC.’s holdings in Meta Platforms were worth $314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in META. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% during 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 period. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. Richardson Financial Services Inc. boosted its position 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 valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Meta Platforms during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. UBS Group raised their price target on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $572.51.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $12.59 during midday trading on Tuesday, reaching $528.54. 13,717,727 shares of the company traded hands, compared to its average volume of 16,426,400. The firm’s fifty day moving average price is $498.29 and its two-hundred day moving average price is $485.68. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81.

Meta Platforms (NASDAQ:META) last announced 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.23 earnings per share. On average, equities analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the completion of the sale, the chief financial officer now directly owns 74,580 shares in the company, valued at $35,190,573. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,860 shares of company stock worth $167,199,478. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.