PKO Investment Management Joint Stock Co Increases Stock Position in Meta Platforms, Inc. $META

PKO Investment Management Joint Stock Co boosted its stake in Meta Platforms, Inc. (NASDAQ:METAFree 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 (NASDAQ:METAGet Free Report) last announced its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping the consensus estimate of $6.67 by $3.77. Meta Platforms had a return on equity of 36.93% and a net margin of 32.84%.The firm had revenue of $56.31 billion for the quarter, compared to the consensus estimate of $55.56 billion. During the same period in the previous year, the business earned $6.43 EPS. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 29.35 earnings per share for the current fiscal year.

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

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Meta Platforms Company 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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