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

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

Other hedge funds have also modified their holdings of the company. Johnson Bixby & Associates LLC boosted its holdings in Meta Platforms by 8.6% during the third quarter. Johnson Bixby & Associates LLC now owns 2,530 shares of the social networking company’s stock valued at $1,448,000 after acquiring an additional 200 shares during the period. Factory Mutual Insurance Co. boosted its holdings in Meta Platforms by 2.7% during the third quarter. Factory Mutual Insurance Co. now owns 350,041 shares of the social networking company’s stock valued at $200,377,000 after acquiring an additional 9,051 shares during the period. Crestmont Private Wealth LLC bought a new stake in Meta Platforms during the third quarter valued at about $218,000. Renaissance Investment Group LLC boosted its holdings in Meta Platforms by 5.0% during the third quarter. Renaissance Investment Group LLC now owns 9,104 shares of the social networking company’s stock valued at $5,212,000 after acquiring an additional 435 shares during the period. Finally, Shaker Investments LLC OH boosted its holdings in Meta Platforms by 93.1% during the third quarter. Shaker Investments LLC OH now owns 7,549 shares of the social networking company’s stock valued at $4,321,000 after acquiring an additional 3,640 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $6.12 during midday trading on Friday, reaching $589.95. The company had a trading volume of 8,587,051 shares, compared to its average volume of 15,361,877. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The stock has a fifty day simple moving average of $538.12 and a 200 day simple moving average of $505.59. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 252,443 shares of company stock valued at $133,105,284 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Pivotal Research assumed coverage on shares of Meta Platforms in a report on Tuesday, October 1st. They set a “buy” rating and a $780.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Susquehanna increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, Guggenheim increased their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $609.71.

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.