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

Insight Wealth Strategies LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 948 shares of the social networking company’s stock after selling 32 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Meta Platforms were worth $460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Stone House Investment Management LLC increased its holdings in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the period. Quest Partners LLC acquired a new position in Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC increased its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on META. Deutsche Bank Aktiengesellschaft cut their price target on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. KeyCorp cut their price target on shares of Meta Platforms from $575.00 to $555.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Barclays dropped their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $510.41.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Friday, June 14th. The stock was sold at an average price of $503.34, for a total transaction of $8,406,784.68. Following the transaction, the chief executive officer now owns 275,297 shares in the company, valued at approximately $138,567,991.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $503.34, for a total value of $8,406,784.68. Following the sale, the chief executive officer now directly owns 275,297 shares in the company, valued at approximately $138,567,991.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $507.00, for a total transaction of $248,430.00. Following the completion of the sale, the chief operating officer now owns 9,049 shares in the company, valued at $4,587,843. The disclosure for this sale can be found here. Insiders have sold a total of 391,071 shares of company stock worth $192,834,857 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.4 %

Shares of META stock opened at $499.49 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $274.38 and a fifty-two week high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock’s fifty day moving average is $479.79 and its two-hundred day moving average is $445.53. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 28.69, a PEG ratio of 1.30 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Research analysts expect that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. 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.