Koshinski Asset Management Inc. Sells 25 Shares of Meta Platforms, Inc. (NASDAQ:META)

Koshinski Asset Management Inc. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 9,686 shares of the social networking company’s stock after selling 25 shares during the period. Koshinski Asset Management Inc.’s holdings in Meta Platforms were worth $5,671,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of META. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC lifted its position in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after purchasing an additional 890,434 shares during the last quarter. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Meta Platforms by 926.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now directly owns 31,482 shares of the company’s stock, valued at $18,262,708.20. The trade was a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 567,111 shares of company stock valued at $345,453,784. 13.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on META. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Wedbush reissued an “outperform” rating and set a $700.00 price target (up from $680.00) on shares of Meta Platforms in a research note on Wednesday. Roth Mkm lifted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities lifted their price target on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 2nd. Finally, Wolfe Research lifted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $652.98.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $623.50 on Thursday. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.16 and a beta of 1.19. The firm’s 50-day moving average is $598.87 and its 200 day moving average is $558.76. Meta Platforms, Inc. has a 1 year low of $382.08 and a 1 year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.