Financial Insights Inc. Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

Financial Insights Inc. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 41.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,324 shares of the social networking company’s stock after selling 949 shares during the period. Financial Insights Inc.’s holdings in Meta Platforms were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the third quarter valued at approximately $49,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,817 shares of company stock worth $132,547,715 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on META shares. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Susquehanna lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Piper Sandler boosted their target price on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $619.20.

Meta Platforms Trading Up 0.7 %

META stock opened at $567.78 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $549.53 and its two-hundred day simple moving average is $509.99. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 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.