Foresight Capital Management Advisors Inc. Invests $258,000 in Meta Platforms, Inc. (NASDAQ:META)

Foresight Capital Management Advisors Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 448 shares of the social networking company's stock, valued at approximately $258,000.

Several other large investors also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new position in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $47,000. Finally, Principia Wealth Advisory LLC lifted its stake in Meta Platforms by 53.6% in the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock valued at $50,000 after buying an additional 30 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on META. Wedbush increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Susquehanna decreased their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Roth Capital upped their price objective on Meta Platforms from $580.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Pivotal Research reduced their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $704.26.

Meta Platforms Stock Down 0.1%

Shares of META traded down $0.78 during midday trading on Thursday, hitting $693.36. The company had a trading volume of 7,303,916 shares, compared to its average volume of 14,503,798. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The company's 50 day moving average price is $597.08 and its 200 day moving average price is $617.62. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.42 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter last year, the business posted $4.71 EPS. Meta Platforms's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares in the company, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, March 17th. The shares were sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now owns 7,446 shares in the company, valued at approximately $4,523,445. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,201 shares of company stock valued at $56,377,837. Insiders own 13.61% of the company's stock.

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.