Koshinski Asset Management Inc. Acquires 1,057 Shares of Meta Platforms, Inc. $META

Koshinski Asset Management Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,738 shares of the social networking company’s stock after buying an additional 1,057 shares during the period. Koshinski Asset Management Inc.’s holdings in Meta Platforms were worth $7,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. RHL Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth $29,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $42,000. Bayban increased its position in shares of Meta Platforms by 100.0% in the first quarter. Bayban now owns 70 shares of the social networking company’s stock worth $40,000 after purchasing an additional 35 shares during the period. Finally, Key Capital Management INC acquired a new position in Meta Platforms in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 4.7%

Shares of NASDAQ:META opened at $631.48 on Friday. Meta Platforms, Inc. has a 52-week low of $520.26 and a 52-week high of $796.25. The company has a market capitalization of $1.60 trillion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35. The company has a fifty day moving average of $598.10 and a 200-day moving average of $626.80.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. During the same quarter in the previous year, the company posted $6.43 EPS. Meta Platforms’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts predict that Meta Platforms, Inc. will post 29.46 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is 7.63%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 9,195 shares of Meta Platforms stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the sale, the chief financial officer directly owned 13,186 shares in the company, valued at $8,014,978.24. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Javier Olivan sold 3,348 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $600.97, for a total transaction of $2,012,047.56. Following the sale, the chief operating officer directly owned 9,498 shares in the company, valued at $5,708,013.06. The trade was a 26.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 44,748 shares of company stock worth $27,565,292. 13.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on META shares. Morgan Stanley cut their price objective on shares of Meta Platforms from $825.00 to $775.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Mizuho dropped their target price on shares of Meta Platforms from $850.00 to $835.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Guggenheim cut their price target on shares of Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a report on Thursday, April 30th. TD Cowen reduced their price target on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $765.00 to $767.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $840.64.

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About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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