Insight Wealth Strategies LLC Purchases 5,109 Shares of Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Strategies LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 478.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,176 shares of the social networking company's stock after buying an additional 5,109 shares during the period. Insight Wealth Strategies LLC's holdings in Meta Platforms were worth $3,559,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Wealth Management LLC MS acquired a new stake in Meta Platforms during the first quarter worth about $2,940,000. Lederer & Associates Investment Counsel CA raised its holdings in Meta Platforms by 3.5% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 6,910 shares of the social networking company's stock valued at $3,983,000 after acquiring an additional 236 shares in the last quarter. Park National Corp OH lifted its position in shares of Meta Platforms by 558.7% in the 1st quarter. Park National Corp OH now owns 46,482 shares of the social networking company's stock worth $26,790,000 after acquiring an additional 39,425 shares during the period. Waller Financial Planning Group Inc. grew its holdings in shares of Meta Platforms by 26.7% during the 1st quarter. Waller Financial Planning Group Inc. now owns 811 shares of the social networking company's stock worth $468,000 after purchasing an additional 171 shares in the last quarter. Finally, Kera Capital Partners Inc. raised its stake in shares of Meta Platforms by 40.5% in the first quarter. Kera Capital Partners Inc. now owns 1,493 shares of the social networking company's stock valued at $860,000 after purchasing an additional 430 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on META shares. Robert W. Baird increased their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Raymond James lowered their target price on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Bank of America increased their price target on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wedbush boosted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Meta Platforms Stock Down 0.4%

Shares of META traded down $2.82 on Friday, reaching $642.23. The company's stock had a trading volume of 16,230,863 shares, compared to its average volume of 14,491,179. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91. The stock has a market capitalization of $1.61 trillion, a PE ratio of 26.85, a PEG ratio of 1.42 and a beta of 1.24. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $578.25 and a 200-day moving average of $610.43.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the previous year, the firm earned $4.71 earnings per share. Meta Platforms's quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be issued a $0.525 dividend. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.33%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the completion of the transaction, the chief technology officer now owns 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $635.41, for a total value of $329,777.79. Following the sale, the insider now directly owns 30,221 shares of the company's stock, valued at approximately $19,202,725.61. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,664 shares of company stock valued at $35,484,670 over the last ninety days. Corporate insiders own 13.61% of the company's stock.

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.