Meta Platforms, Inc. (NASDAQ:META) Stock Position Boosted by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,720 shares of the social networking company’s stock after acquiring an additional 247 shares during the period. Meta Platforms comprises approximately 1.4% of Kolinsky Wealth Management LLC’s holdings, making the stock its 10th biggest holding. Kolinsky Wealth Management LLC’s holdings in Meta Platforms were worth $2,130,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in META. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter worth $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new stake in Meta Platforms during the 3rd quarter worth $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms during the 3rd quarter worth $49,000. Finally, NewSquare Capital LLC increased its stake in Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on META shares. Truist Financial lifted their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird raised their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $574.32 on Friday. The company’s fifty day moving average is $575.21 and its two-hundred day moving average is $527.37. The company has a market cap of $1.45 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. 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 (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Insider Activity

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the transaction, the chief technology officer now owns 8,565 shares in the company, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,239 shares of company stock worth $59,681,541 in the last three months. 13.71% of the stock is owned by 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.