Insight Wealth Strategies LLC Acquires 101 Shares of Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Strategies LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the second quarter, Holdings Channel reports. The fund owned 1,049 shares of the social networking company’s stock after acquiring an additional 101 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Meta Platforms were worth $529,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. Richardson Financial Services Inc. increased its position 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 buying an additional 43 shares during the period. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the first quarter valued at approximately $44,000. Finally, Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at $7,272,152.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 5,058 shares of Meta Platforms stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the transaction, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $4,223,529.35. Following the sale, the chief financial officer now directly owns 74,580 shares of the company’s stock, valued at $35,190,573. The disclosure for this sale can be found here. Over the last quarter, insiders sold 310,671 shares of company stock worth $154,419,524. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 3.9 %

Shares of META stock traded up $18.36 on Tuesday, reaching $494.09. 20,921,097 shares of the company’s stock were exchanged, compared to its average volume of 16,483,727. The company’s fifty day simple moving average is $494.32 and its 200 day simple moving average is $481.35. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. 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 stock has a market capitalization of $1.25 trillion, a PE ratio of 28.38, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

Several equities analysts recently commented on META shares. Roth Mkm boosted their target price on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. UBS Group boosted their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, TD Securities boosted their price target on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $572.51.

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.