Meta Platforms, Inc. (NASDAQ:META) Position Trimmed by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 469 shares of the social networking company's stock after selling 588 shares during the period. Inspire Trust Co. N.A.'s holdings in Meta Platforms were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Meta Platforms in the 1st quarter valued at about $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. grew its position in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after buying an additional 40 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 515 shares of Meta Platforms stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the sale, the insider owned 25,035 shares in the company, valued at $19,436,673.30. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 1,037 shares of Meta Platforms stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $785.18, for a total transaction of $814,231.66. The disclosure for this sale can be found here. Insiders have sold 269,243 shares of company stock worth $200,605,051 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of META stock opened at $785.23 on Friday. The company has a market capitalization of $1.97 trillion, a P/E ratio of 28.43, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a 50 day moving average of $724.43 and a two-hundred day moving average of $655.43.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. During the same period last year, the business earned $5.16 earnings per share. Meta Platforms's quarterly revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's payout ratio is currently 7.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Robert W. Baird increased their target price on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. DA Davidson upped their price target on shares of Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $920.00 price target on shares of Meta Platforms in a report on Wednesday. Finally, Roth Capital upped their price target on shares of Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

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.

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