Koshinski Asset Management Inc. Has $5.67 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Koshinski Asset Management Inc. trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,686 shares of the social networking company’s stock after selling 25 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Meta Platforms were worth $5,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in META. JDM Financial Group LLC acquired a new position in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter valued at approximately $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms in the 3rd quarter valued at $49,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

NASDAQ META opened at $623.50 on Thursday. Meta Platforms, Inc. has a 52-week low of $382.08 and a 52-week high of $638.40. The company has a 50-day simple moving average of $598.87 and a 200 day simple moving average of $558.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

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. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current 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 dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insiders Place Their Bets

In other news, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the transaction, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 567,111 shares of company stock worth $345,453,784 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

META has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Susquehanna upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research note on Thursday, October 31st. Scotiabank reduced their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and issued a $700.00 price objective (up from $680.00) on shares of Meta Platforms in a research note on Wednesday. Finally, Sanford C. Bernstein increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $652.98.

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.