Asio Capital LLC Has $13.51 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Asio Capital LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the first quarter, HoldingsChannel.com reports. The firm owned 23,432 shares of the social networking company’s stock after acquiring an additional 308 shares during the period. Meta Platforms accounts for approximately 2.6% of Asio Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Asio Capital LLC’s holdings in Meta Platforms were worth $13,505,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in META. Fjell Capital LLC bought a new position in Meta Platforms in the fourth quarter worth about $1,836,000. Opulen Financial Group LLC bought a new position in Meta Platforms in the fourth quarter worth about $325,000. Daner Wealth Management LLC bought a new position in Meta Platforms in the fourth quarter worth about $334,000. Brighton Jones LLC raised its holdings in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Meta Platforms in the fourth quarter worth about $112,406,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $702.12 on Tuesday. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm’s 50 day simple moving average is $607.90 and its 200-day simple moving average is $620.85.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm posted $4.71 EPS. The business’s revenue was up 16.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $676.00 price objective on shares of Meta Platforms in a report on Wednesday, June 11th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Thursday, May 1st. Roth Capital upped their price objective on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Oppenheimer upped their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the company an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $706.88.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total value of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of the transaction, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. The trade was a 9.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,672 shares of company stock worth $55,455,647 in the last quarter. Corporate insiders own 13.61% of the company’s stock.

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.