Meta Platforms, Inc. (NASDAQ:META) Position Raised by KKM Financial LLC

KKM Financial LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,130 shares of the social networking company’s stock after acquiring an additional 988 shares during the period. Meta Platforms accounts for approximately 3.7% of KKM Financial LLC’s investment portfolio, making the stock its 2nd biggest holding. KKM Financial LLC’s holdings in Meta Platforms were worth $7,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. raised its position in Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after buying an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX raised its holdings in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after purchasing an additional 3,224 shares during the last quarter. Redwood Investment Management LLC acquired a new position in Meta Platforms during the first quarter valued at $1,829,000. Creekmur Asset Management LLC lifted its position in Meta Platforms by 59.6% during the first quarter. Creekmur Asset Management LLC now owns 1,026 shares of the social networking company’s stock valued at $498,000 after purchasing an additional 383 shares during the period. Finally, Clear Point Advisors Inc. boosted its holdings in Meta Platforms by 7.8% in the first quarter. Clear Point Advisors Inc. now owns 1,036 shares of the social networking company’s stock valued at $503,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on META shares. Loop Capital boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Morgan Stanley boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Mizuho boosted their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Performance

NASDAQ META opened at $565.11 on Tuesday. The company has a market cap of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a 50-day moving average of $573.38 and a two-hundred day moving average of $525.35.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $521.35, for a total transaction of $215,317.55. Following the sale, the chief operating officer now owns 14,011 shares of the company’s stock, valued at $7,304,634.85. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,218 shares of company stock worth $65,819,414. 13.71% of the stock is currently owned by insiders.

Meta Platforms Profile

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.