International Private Wealth Advisors LLC Invests $218,000 in Meta Platforms, Inc. (NASDAQ:META)

International Private Wealth Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 433 shares of the social networking company’s stock, valued at approximately $218,000.

Other hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% in the 2nd 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 period. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Quest Partners LLC purchased a new position in Meta Platforms in the 4th quarter worth $32,000. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms 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-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total transaction of $452,500.00. Following the completion of the sale, the insider now directly owns 40,560 shares in the company, valued at approximately $20,280,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total value of $452,500.00. Following the completion of the sale, the insider now owns 40,560 shares of the company’s stock, valued at approximately $20,280,000. The disclosure for this sale can be found here. Insiders sold 392,082 shares of company stock valued at $202,909,089 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.8 %

Shares of NASDAQ META opened at $511.76 on Wednesday. The firm’s 50 day moving average price is $505.32 and its 200-day moving average price is $493.64. The company has a market cap of $1.30 trillion, a PE ratio of 29.39, a P/E/G ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week 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.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the company earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

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.