Axim Planning & Wealth Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Axim Planning & Wealth bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 403 shares of the social networking company’s stock, valued at approximately $203,000. Meta Platforms comprises approximately 0.2% of Axim Planning & Wealth’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth 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 purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its stake in shares of 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 buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on META. Bank of America lifted their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities raised their target price on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Stock Down 0.2 %

NASDAQ META traded down $1.06 during mid-day trading on Friday, reaching $517.16. 2,950,656 shares of the company’s stock traded hands, compared to its average volume of 15,954,499. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a fifty day simple moving average of $504.32 and a 200-day simple moving average of $492.38.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $3.23 EPS. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the transaction, the insider now owns 41,465 shares in the company, valued at approximately $19,778,805. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $477.00, for a total transaction of $431,685.00. Following the sale, the insider now directly owns 41,465 shares of the company’s stock, valued at $19,778,805. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at approximately $2,573,817. The disclosure for this sale can be found here. Insiders have sold a total of 388,078 shares of company stock valued at $200,792,168 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.