Kolinsky Wealth Management LLC Buys 247 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kolinsky Wealth Management LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,720 shares of the social networking company’s stock after buying an additional 247 shares during the quarter. Meta Platforms makes up 1.4% of Kolinsky Wealth Management LLC’s holdings, making the stock its 10th largest holding. Kolinsky Wealth Management LLC’s holdings in Meta Platforms were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Jackson Wealth Management LLC lifted its position in Meta Platforms by 392.2% in the second quarter. Jackson Wealth Management LLC now owns 6,069 shares of the social networking company’s stock worth $3,060,000 after purchasing an additional 4,836 shares during the period. Park Place Capital Corp lifted its holdings in shares of Meta Platforms by 1.0% during the 2nd quarter. Park Place Capital Corp now owns 3,757 shares of the social networking company’s stock worth $1,894,000 after acquiring an additional 39 shares during the period. GAMMA Investing LLC boosted its position in shares of Meta Platforms by 48.3% during the 2nd quarter. GAMMA Investing LLC now owns 24,402 shares of the social networking company’s stock valued at $12,304,000 after acquiring an additional 7,943 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Meta Platforms by 1.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 99,932 shares of the social networking company’s stock valued at $50,388,000 after acquiring an additional 1,341 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its position in Meta Platforms by 11.8% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 12,825 shares of the social networking company’s stock worth $6,467,000 after purchasing an additional 1,349 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the transaction, the insider now directly owns 38,722 shares of the company’s stock, valued at $20,135,440. This represents a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total value of $214,995.41. Following the completion of the sale, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,239 shares of company stock worth $59,681,541. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on META shares. UBS Group upped their price objective on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Pivotal Research increased their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Meta Platforms Price Performance

Shares of META stock opened at $574.32 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm has a fifty day moving average of $575.21 and a 200-day moving average of $527.37. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

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.