MOKAN Wealth Management Inc. Takes $214,000 Position in Meta Platforms, Inc. (NASDAQ:META)

MOKAN Wealth Management Inc. acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 370 shares of the social networking company's stock, valued at approximately $214,000.

A number of other hedge funds have also made changes to their positions in META. Norges Bank acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $19,949,512,000. GAMMA Investing LLC lifted its position in shares of Meta Platforms by 67,172.9% during the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after buying an additional 23,417,803 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. bought a new position in Meta Platforms in the 4th quarter valued at $2,243,603,000. Finally, Northern Trust Corp increased its stake in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after buying an additional 2,787,832 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on META shares. Stifel Nicolaus lifted their price objective on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Bank of America upped their target price on Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Benchmark dropped their target price on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JMP Securities reissued a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Wedbush boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $719.52.

Meta Platforms Price Performance

Shares of META stock traded up $7.54 on Friday, hitting $733.63. 18,758,104 shares of the company's stock were exchanged, compared to its average volume of 14,544,681. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market cap of $1.84 trillion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. The company has a 50 day moving average of $638.51 and a 200 day moving average of $626.52.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.71 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's dividend payout ratio is currently 8.19%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total value of $365,837.91. Following the transaction, the insider now owns 28,145 shares in the company, valued at approximately $19,839,129.05. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock valued at $83,868,872 over the last 90 days. Company insiders own 13.61% of the company's stock.

Meta Platforms Company 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.