Cornell Pochily Investment Advisors Inc. Purchases 32 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cornell Pochily Investment Advisors Inc. grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,478 shares of the social networking company’s stock after purchasing an additional 32 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Meta Platforms were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $47,000. Finally, Principia Wealth Advisory LLC lifted its stake in shares of Meta Platforms by 53.6% in the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock valued at $50,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $682.87 on Monday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.72 trillion, a P/E ratio of 28.55, a PEG ratio of 1.42 and a beta of 1.26. The stock’s 50 day moving average is $604.07 and its 200 day moving average is $619.96. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly 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 company had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.71 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio is 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total transaction of $552,830.25. Following the sale, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. This trade represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,593 shares of company stock worth $56,008,477. Insiders own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on META shares. Wedbush boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Moffett Nathanson boosted their target price on Meta Platforms from $525.00 to $605.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Jefferies Financial Group lowered their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Raymond James lowered their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Meta Platforms from $675.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $704.26.

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.