Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Insight Wealth Partners LLC

Insight Wealth Partners LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 59.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,627 shares of the social networking company’s stock after purchasing an additional 604 shares during the quarter. Insight Wealth Partners LLC’s holdings in Meta Platforms were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. POM Investment Strategies LLC acquired a new position in Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of 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. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth about $49,000. Finally, NewSquare Capital LLC increased its position in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, Robert W. Baird upped their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total value of $511,596.50. Following the sale, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. The trade was a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,561 shares of company stock worth $62,445,464 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.8 %

Shares of META stock opened at $569.20 on Thursday. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The firm has a market capitalization of $1.44 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. The stock has a fifty day moving average of $574.12 and a two-hundred day moving average of $526.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is 9.42%.

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.