PKO Investment Management Joint Stock Co boosted its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 2.5% in the first quarter, HoldingsChannel reports. The firm owned 41,000 shares of the social networking company’s stock after acquiring an additional 1,000 shares during the period. Meta Platforms makes up approximately 2.0% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 11th largest holding. PKO Investment Management Joint Stock Co’s holdings in Meta Platforms were worth $23,457,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Westchester Capital Management Inc. bought a new stake in Meta Platforms during the third quarter valued at approximately $26,000. RHL Group LLC bought a new stake in Meta Platforms during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $29,000. Niles Investment Management LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $29,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the 4th quarter worth $42,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms Stock Down 0.8%
Meta Platforms stock opened at $557.83 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.41 trillion, a P/E ratio of 20.28, a P/E/G ratio of 1.00 and a beta of 1.23. The business has a fifty day moving average of $617.09 and a two-hundred day moving average of $632.24. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, June 15th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. Meta Platforms’s payout ratio is currently 7.63%.
Insider Buying and Selling
In related news, COO Javier Olivan sold 140 shares of Meta Platforms stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $600.00, for a total transaction of $84,000.00. Following the completion of the transaction, the chief operating officer directly owned 12,846 shares in the company, valued at approximately $7,707,600. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 2,079 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $609.92, for a total transaction of $1,268,023.68. Following the completion of the transaction, the insider owned 1,118 shares of the company’s stock, valued at approximately $681,890.56. This represents a 65.03% 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. Insiders have sold a total of 39,013 shares of company stock valued at $24,115,999 over the last ninety days. Company insiders own 13.53% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on META. Raymond James Financial raised shares of Meta Platforms from an “underperform” rating to an “outperform” rating in a report on Tuesday, June 2nd. KeyCorp reissued an “overweight” rating and set a $760.00 price objective on shares of Meta Platforms in a research note on Thursday, April 30th. Piper Sandler began coverage on shares of Meta Platforms in a research note on Tuesday, June 2nd. They issued an “overweight” rating on the stock. Wells Fargo & Company cut their price target on shares of Meta Platforms from $770.00 to $765.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Finally, UBS Group downgraded shares of Meta Platforms from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $840.60.
Read Our Latest Stock Analysis on Meta Platforms
More Meta Platforms News
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is getting recognition from some investors as a long-term AI winner, with articles highlighting it as a top AI stock in billionaire David Tepper’s portfolio and a high-conviction hedge fund holding.
- Positive Sentiment: Meta’s new $299 AI smart glasses broaden its wearable lineup and could help expand consumer adoption beyond higher-priced models. Reuters: Meta announces new range of smart glasses starting at $299
- Positive Sentiment: Facebook is rolling out an AI companion app for creators, which may improve engagement and give Meta another tool to support monetization across its platforms.
- Positive Sentiment: Qualcomm said Meta will be the first major customer for its new data-center CPU, signaling that Meta is continuing to invest heavily in next-generation AI infrastructure. CNBC: Qualcomm announces AI data center CPU, signs Meta as first major customer
- Neutral Sentiment: Meta is giving some engineers a way to leave its AI training unit after a recent reorganization, which may help morale but does not directly change the company’s financial outlook. Business Insider: Meta forced thousands of engineers into AI training work. Now it’s giving some a way out.
- Neutral Sentiment: Reports that Meta is building an experimental prediction markets app could open a new consumer product category, but the revenue impact remains uncertain and the project is still early. Reuters: Mark Zuckerberg directed Meta to create a prediction markets app, NYT reports
- Negative Sentiment: European regulators are escalating an investigation into whether Facebook and Instagram use addictive design features for children, increasing the risk of fines or product changes. Reuters: EU to ramp up Meta probe into addictive design, Bloomberg News reports
- Negative Sentiment: The U.S. government is also pressuring Meta to submit AI models for security reviews, adding another layer of regulatory uncertainty around the company’s AI strategy. Reuters: US presses Meta to agree to AI reviews as security concerns rise
Meta Platforms Company Profile
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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