Meta Platforms, Inc. (NASDAQ:META) Shares Bought by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 90.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the social networking company's stock after purchasing an additional 10,000 shares during the quarter. Meta Platforms accounts for approximately 1.4% of PKO Investment Management Joint Stock Co's holdings, making the stock its 16th biggest position. PKO Investment Management Joint Stock Co's holdings in Meta Platforms were worth $12,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at about $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $47,000. Finally, Principia Wealth Advisory LLC increased its position in Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on META. Moffett Nathanson raised their price target on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. UBS Group raised their target price on Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company reiterated an "overweight" rating and issued a $664.00 price target on shares of Meta Platforms in a report on Tuesday. Finally, TD Securities decreased their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $710.00.

Meta Platforms Trading Down 0.2%

Shares of META traded down $1.46 on Thursday, hitting $695.77. 9,635,650 shares of the stock traded hands, compared to its average volume of 14,501,973. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 27.14, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The stock's 50 day moving average is $612.33 and its two-hundred day moving average is $621.89.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates 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 company posted $4.71 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the sale, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at approximately $10,855,043.68. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 2,753 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $700.43, for a total transaction of $1,928,283.79. Following the completion of the sale, the chief executive officer now owns 85,619 shares of the company's stock, valued at approximately $59,970,116.17. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,512 shares of company stock valued at $73,590,232. Insiders own 13.61% of the company's stock.

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.