Insight Wealth Strategies LLC Acquires 17 Shares of Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Strategies LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,067 shares of the social networking company’s stock after acquiring an additional 17 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Meta Platforms were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. JDM Financial Group LLC bought a new position in shares of Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms in the third quarter valued at approximately $36,000. Halpern Financial Inc. acquired a new stake in Meta Platforms during the third quarter worth approximately $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms in the 3rd quarter valued at $49,000. Finally, Hoese & Co LLP lifted its position in shares of Meta Platforms by 2,000.0% during the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock valued at $60,000 after acquiring an additional 100 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James reiterated a “strong-buy” rating and set a $675.00 price objective on shares of Meta Platforms in a research note on Monday, November 25th. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wedbush upped their target price on Meta Platforms from $640.00 to $680.00 and gave the stock an “outperform” rating in a research note on Monday. Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $645.80.

Insider Buying and Selling

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total value of $533,850.45. Following the completion of the sale, the insider now owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $589.16, for a total value of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares in the company, valued at approximately $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 326,624 shares of company stock worth $197,875,975 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META stock traded up $16.87 on Monday, reaching $621.50. The company’s stock had a trading volume of 8,656,862 shares, compared to its average volume of 10,817,803. The company has a market capitalization of $1.57 trillion, a P/E ratio of 29.27, a PEG ratio of 1.39 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $352.05 and a 12-month high of $638.40. The stock’s 50 day simple moving average is $589.88 and its 200-day simple moving average is $549.56. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s dividend payout ratio is 9.42%.

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.