Insight Wealth Partners LLC Has $516,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Insight Wealth Partners LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 38.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,023 shares of the social networking company’s stock after acquiring an additional 286 shares during the period. Insight Wealth Partners LLC’s holdings in Meta Platforms were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brookstone Capital Management grew its holdings in shares of Meta Platforms by 33.8% during the 2nd quarter. Brookstone Capital Management now owns 40,974 shares of the social networking company’s stock worth $18,930,000 after purchasing an additional 10,341 shares in the last quarter. Rovin Capital UT ADV lifted its position in Meta Platforms by 48.8% in the second quarter. Rovin Capital UT ADV now owns 674 shares of the social networking company’s stock worth $340,000 after purchasing an additional 221 shares during the period. Stanley Laman Group Ltd. boosted its stake in Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock worth $846,000 after buying an additional 352 shares in the last quarter. Blue Trust Inc. increased its holdings in Meta Platforms by 96.4% in the 2nd quarter. Blue Trust Inc. now owns 13,014 shares of the social networking company’s stock valued at $6,319,000 after buying an additional 6,388 shares during the period. Finally, Rappaport Reiches Capital Management LLC raised its stake in shares of Meta Platforms by 24.1% in the 2nd quarter. Rappaport Reiches Capital Management LLC now owns 3,203 shares of the social networking company’s stock valued at $1,615,000 after buying an additional 623 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

META opened at $527.42 on Friday. The company has a fifty day moving average price of $500.48 and a two-hundred day moving average price of $487.81. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21. 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 quick ratio of 2.68 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the sale, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the sale, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock valued at $175,146,777 in the last 90 days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on META shares. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Barclays upped their price objective on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Cowen raised their target price on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Roth Mkm boosted their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler increased their price objective on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research note 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 assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $574.41.

About Meta Platforms

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.