Insight Wealth Strategies LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Strategies LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,067 shares of the social networking company’s stock after purchasing an additional 17 shares during the period. Insight Wealth Strategies LLC’s holdings in Meta Platforms were worth $625,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Jennison Associates LLC lifted its position in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after purchasing an additional 208,677 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $589.89, for a total transaction of $533,850.45. Following the completion of the sale, the insider now directly owns 34,197 shares of the company’s stock, valued at approximately $20,172,468.33. This represents a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $584.83, for a total transaction of $241,534.79. Following the completion of the transaction, the chief operating officer now directly owns 11,533 shares of the company’s stock, valued at approximately $6,744,844.39. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 326,624 shares of company stock worth $197,875,975. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $16.87 during mid-day trading on Monday, hitting $621.50. 8,656,862 shares of the stock were exchanged, compared to its average volume of 10,817,803. Meta Platforms, Inc. has a twelve month low of $352.05 and a twelve month high of $638.40. The stock’s fifty day simple moving average is $589.88 and its two-hundred day simple moving average is $549.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market cap 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 (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on META shares. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Mizuho raised their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Wedbush lifted their price objective on Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group upped their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $645.80.

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.