PKO Investment Management Joint Stock Co Purchases 1,000 Shares of Meta Platforms, Inc. $META

PKO Investment Management Joint Stock Co raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,000 shares of the social networking company’s stock after buying an additional 1,000 shares during the period. Meta Platforms comprises about 2.0% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 11th largest position. PKO Investment Management Joint Stock Co’s holdings in Meta Platforms were worth $23,457,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of META. Auto Owners Insurance Co boosted its holdings in Meta Platforms by 76,587.7% during the 4th quarter. Auto Owners Insurance Co now owns 105,292,277 shares of the social networking company’s stock worth $69,502,379,000 after acquiring an additional 105,154,977 shares during the last quarter. Norges Bank purchased a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $22,152,075,000. Vanguard Group Inc. lifted its holdings in Meta Platforms by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 199,995,630 shares of the social networking company’s stock worth $132,015,115,000 after acquiring an additional 7,269,279 shares during the period. Corient Private Wealth LLC raised its stake in shares of Meta Platforms by 488.1% during the 4th quarter. Corient Private Wealth LLC now owns 5,466,595 shares of the social networking company’s stock worth $3,608,445,000 after purchasing an additional 4,537,076 shares during the period. Finally, State Street Corp raised its position in Meta Platforms by 5.1% in the fourth quarter. State Street Corp now owns 90,841,345 shares of the social networking company’s stock worth $59,963,463,000 after acquiring an additional 4,395,763 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

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Meta Platforms Trading Down 0.8%

NASDAQ META opened at $557.83 on Thursday. The stock has a 50 day simple moving average of $617.09 and a two-hundred day simple moving average of $632.24. Meta Platforms, Inc. has a fifty-two week low of $520.26 and a fifty-two week high of $796.25. The stock has a market cap of $1.41 trillion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.35 and a current ratio of 2.35.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, beating the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.43 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 15th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Meta Platforms’s dividend payout ratio (DPR) is presently 7.63%.

Insider Activity

In other news, Director Robert M. Kimmitt sold 504 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $629.29, for a total value of $317,162.16. Following the sale, the director directly owned 3,943 shares of the company’s stock, valued at $2,481,290.47. The trade was a 11.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 140 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $600.00, for a total value of $84,000.00. Following the completion of the sale, the chief operating officer directly owned 12,846 shares in the company, valued at approximately $7,707,600. This represents a 1.08% 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. In the last 90 days, insiders have sold 39,013 shares of company stock worth $24,115,999. Corporate insiders own 13.53% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Wedbush upgraded Meta Platforms from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 2nd. TD Cowen decreased their target price on shares of Meta Platforms from $820.00 to $800.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Raymond James Financial raised Meta Platforms from an “underperform” rating to an “outperform” rating in a report on Tuesday, June 2nd. Wells Fargo & Company lowered their price objective on shares of Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $1,015.00 target price on shares of Meta Platforms in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $840.60.

View Our Latest Report on Meta Platforms

Meta Platforms Profile

(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.

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

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