Shoker Investment Counsel Inc. Invests $752,000 in Meta Platforms, Inc. (NASDAQ:META)

Shoker Investment Counsel Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,531 shares of the social networking company’s stock, valued at approximately $752,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at about $11,285,855,000. International Assets Investment Management LLC grew its stake in Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares during the period. Capital Research Global Investors grew its stake in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management boosted its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.1 %

NASDAQ META opened at $530.00 on Wednesday. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $488.29 and its 200 day moving average is $464.16. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on META shares. Truist Financial reduced their price objective on Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. TD Cowen upped their target price on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $513.59.

View Our Latest Stock Analysis on META

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the completion of the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at approximately $3,924,027.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 8,727 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the completion of the sale, the chief executive officer now directly owns 178,099 shares of the company’s stock, valued at approximately $94,191,218.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $517.75, for a total value of $253,697.50. Following the sale, the chief operating officer now directly owns 7,579 shares of the company’s stock, valued at $3,924,027.25. The disclosure for this sale can be found here. Insiders sold 260,459 shares of company stock valued at $128,049,749 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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