Insight Wealth Strategies LLC Has $529,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Strategies LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,049 shares of the social networking company’s stock after purchasing an additional 101 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Meta Platforms were worth $529,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC grew its holdings in shares of 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 purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the fourth quarter valued at $39,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on META. Roth Mkm upped their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial increased their target price on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $525.00 price target on shares of Meta Platforms in a research report on Tuesday, July 30th. TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Finally, Citigroup upped their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $572.51.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 4,911 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,317,255.35. Following the completion of the transaction, the chief operating officer now owns 11,388 shares of the company’s stock, valued at $5,373,427.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 4,911 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,317,255.35. Following the transaction, the chief operating officer now directly owns 11,388 shares in the company, valued at $5,373,427.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead 905 shares of the stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders sold a total of 310,671 shares of company stock valued at $154,419,524 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META traded up $18.36 during mid-day trading on Tuesday, hitting $494.09. The stock had a trading volume of 20,921,097 shares, compared to its average volume of 16,483,727. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The business has a fifty day moving average price of $494.32 and a 200-day moving average price of $481.35. The firm has a market cap of $1.25 trillion, a P/E ratio of 28.38, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

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

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.