370 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. acquired a new position in Meta Platforms, Inc. (NASDAQ:METAFree Report) during the first quarter, HoldingsChannel.com reports. The fund acquired 370 shares of the social networking company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. lifted its position in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Moffett Nathanson lifted their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Bank of America lifted their target price on Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Citigroup lifted their target price on Meta Platforms from $690.00 to $803.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Monness Crespi & Hardt lifted their target price on Meta Platforms from $775.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.52.

View Our Latest Stock Analysis on META

Meta Platforms Price Performance

Shares of META stock opened at $733.63 on Friday. 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 $1.84 trillion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 1.79 and a beta of 1.26. The stock has a fifty day simple moving average of $638.51 and a two-hundred day simple moving average of $626.52. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.71 EPS. On average, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32. Following the completion of the transaction, the chief executive officer now directly owns 57,533 shares of the company’s stock, valued at approximately $40,862,237.92. The trade was a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $563.03, for a total value of $342,322.24. Following the completion of the transaction, the chief operating officer now directly owns 6,230 shares of the company’s stock, valued at approximately $3,507,676.90. The trade was a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,831 shares of company stock valued at $83,868,872. Corporate insiders own 13.61% of the company’s stock.

About Meta Platforms

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:METAFree Report).

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

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