Coyle Financial Counsel LLC Has $886,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Coyle Financial Counsel LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,538 shares of the social networking company’s stock after purchasing an additional 320 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Meta Platforms were worth $886,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Inlight Wealth Management LLC bought a new position in Meta Platforms during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms during the 1st quarter worth $28,000. Millstone Evans Group LLC bought a new position in Meta Platforms during the 4th quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the 4th quarter worth $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the 4th quarter worth $45,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $702.91 on Thursday. The business’s 50-day moving average price is $681.78 and its 200-day moving average price is $636.39. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.74 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.71 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is 8.19%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $717.50, for a total value of $370,947.50. Following the completion of the transaction, the chief operating officer directly owned 6,819 shares in the company, valued at approximately $4,892,632.50. This represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,780 shares of company stock worth $105,009,697 over the last quarter. 13.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird increased their price objective on Meta Platforms from $635.00 to $740.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Barclays decreased their price target on Meta Platforms from $705.00 to $640.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Roth Capital raised their price target on Meta Platforms from $620.00 to $740.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Raymond James Financial decreased their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. Finally, Benchmark decreased their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $732.67.

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.