Insight 2811 Inc. Sells 23 Shares of Meta Platforms, Inc. (NASDAQ:META)

Insight 2811 Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 950 shares of the social networking company’s stock after selling 23 shares during the quarter. Insight 2811 Inc.’s holdings in Meta Platforms were worth $556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Capital Management Group LLC boosted its position in Meta Platforms by 17.9% during the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Meta Platforms by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock valued at $1,928,185,000 after buying an additional 204,412 shares in the last quarter. United Bank boosted its holdings in Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after buying an additional 1,011 shares during the period. Algert Global LLC purchased a new position in Meta Platforms in the 3rd quarter valued at approximately $6,885,000. Finally, KKM Financial LLC raised its holdings in Meta Platforms by 8.1% during the 3rd quarter. KKM Financial LLC now owns 13,130 shares of the social networking company’s stock valued at $7,516,000 after acquiring an additional 988 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.2 %

Shares of NASDAQ:META opened at $626.31 on Wednesday. The stock’s 50-day simple moving average is $656.24 and its two-hundred day simple moving average is $608.00. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the business earned $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the transaction, the chief operating officer now directly owns 20,935 shares in the company, valued at $15,422,186.45. This represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,311 shares of Meta Platforms stock in a transaction on Friday, December 27th. The shares were sold at an average price of $600.21, for a total transaction of $1,387,085.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 585,605 shares of company stock worth $386,710,448. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America lifted their price target on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Susquehanna upped their price target on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Argus set a $775.00 target price on shares of Meta Platforms in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms 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.