Koshinski Asset Management Inc. Has $5.56 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Koshinski Asset Management Inc. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,711 shares of the social networking company’s stock after selling 1,618 shares during the period. Koshinski Asset Management Inc.’s holdings in Meta Platforms were worth $5,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of META. Capital Research Global Investors grew its stake in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Jennison Associates LLC boosted its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Sustainable Growth Advisers LP bought a new stake in Meta Platforms in the 2nd quarter valued at about $595,152,000. Finally, Global Assets Advisory LLC bought a new stake in Meta Platforms in the 1st quarter valued at about $515,383,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.0 %

Shares of META traded up $6.12 during trading hours on Friday, hitting $589.95. 8,587,051 shares of the stock were exchanged, compared to its average volume of 15,361,877. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50-day moving average of $538.12 and a 200-day moving average of $505.59. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This represents a 0.00 % 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 the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 1,712 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the transaction, the chief executive officer now directly owns 129,888 shares in the company, valued at $65,238,845.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,443 shares of company stock valued at $133,105,284 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on META shares. Piper Sandler boosted their price objective on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. KeyCorp boosted their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Finally, Rosenblatt Securities upped their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $609.71.

About Meta Platforms

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.