Inspire Advisors LLC Purchases Shares of 376 Meta Platforms, Inc. (NASDAQ:META)

Inspire Advisors LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 376 shares of the social networking company’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently made changes to their positions in the business. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. boosted its holdings in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. bought a new position in Meta Platforms during the 3rd quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the 3rd quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the transaction, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total value of $443,269.00. Following the sale, the insider now owns 35,130 shares of the company’s stock, valued at approximately $17,206,674. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,816 shares of company stock valued at $132,421,828 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 0.1 %

NASDAQ:META opened at $576.47 on Friday. The firm has a 50-day simple moving average of $546.53 and a two-hundred day simple moving average of $508.76. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.11, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during 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 firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Ratings Changes

Several research analysts have recently issued reports on META shares. DA Davidson began coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. KeyCorp raised their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Rosenblatt Securities upped their price objective on shares of Meta Platforms from $643.00 to $811.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. 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, Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, three 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 company currently has an average rating of “Moderate Buy” and an average price target of $617.37.

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.