Meta Platforms, Inc. (NASDAQ:META) is Asio Capital LLC’s 8th Largest Position

Asio Capital LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,840 shares of the social networking company’s stock after purchasing an additional 79 shares during the period. Meta Platforms accounts for about 2.4% of Asio Capital LLC’s investment portfolio, making the stock its 8th biggest position. Asio Capital LLC’s holdings in Meta Platforms were worth $11,091,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC boosted its holdings in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the period. Quest Partners LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Gilfoyle & Co LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $39,000. Finally, Cranbrook Wealth Management LLC raised its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on META shares. Loop Capital reduced their price objective on shares of Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. BNP Paribas started coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price target on the stock. Guggenheim reduced their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus upped their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $510.05.

Meta Platforms Trading Down 3.0 %

META stock opened at $504.22 on Friday. The company’s 50-day simple moving average is $480.00 and its 200-day simple moving average is $453.93. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $531.49. The firm has a market cap of $1.28 trillion, a P/E ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the transaction, the chief operating officer now directly owns 8,559 shares of the company’s stock, valued at approximately $4,166,093.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $486.75, for a total value of $238,507.50. Following the completion of the sale, the chief operating officer now owns 8,559 shares in the company, valued at approximately $4,166,093.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $485.00, for a total transaction of $283,725.00. Following the completion of the sale, the insider now owns 38,983 shares of the company’s stock, valued at approximately $18,906,755. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,512 shares of company stock valued at $113,597,536. 13.71% of the stock is owned by corporate insiders.

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.