Axim Planning & Wealth Invests $203,000 in Meta Platforms, Inc. (NASDAQ:META)

Axim Planning & Wealth bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 403 shares of the social networking company’s stock, valued at approximately $203,000. Meta Platforms makes up about 0.2% of Axim Planning & Wealth’s holdings, making the stock its 25th biggest position.

Several other hedge funds also recently made changes to their positions in the business. Delos Wealth Advisors LLC increased 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 during the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. increased its holdings 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. Richardson Financial Services Inc. boosted its stake in shares of 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 purchasing an additional 43 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter worth about $32,000. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

META has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $574.41.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 388,078 shares of company stock valued at $200,792,168 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded down $1.06 during trading hours on Friday, reaching $517.16. The company’s stock had a trading volume of 2,950,656 shares, compared to its average volume of 15,954,499. 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 1 year low of $279.40 and a 1 year high of $544.23. The firm’s 50-day moving average price is $504.32 and its 200-day moving average price is $492.38. The company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 29.85, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

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.