Key Client Fiduciary Advisors LLC Acquires 571 Shares of Meta Platforms, Inc. (NASDAQ:META)

Key Client Fiduciary Advisors LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 27.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,616 shares of the social networking company’s stock after acquiring an additional 571 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Meta Platforms were worth $1,497,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of META. Harfst & Associates Inc. lifted its holdings in shares of Meta Platforms by 28.1% in the 3rd quarter. Harfst & Associates Inc. now owns 3,815 shares of the social networking company’s stock worth $2,184,000 after acquiring an additional 837 shares during the last quarter. Clarity Wealth Advisors LLC lifted its position in Meta Platforms by 3.6% during the third quarter. Clarity Wealth Advisors LLC now owns 12,713 shares of the social networking company’s stock valued at $7,278,000 after buying an additional 443 shares during the period. Commonwealth Equity Services LLC boosted its stake in Meta Platforms by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 576,028 shares of the social networking company’s stock worth $329,742,000 after acquiring an additional 7,565 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of Meta Platforms by 96.2% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 10,200 shares of the social networking company’s stock worth $5,839,000 after buying an additional 5,000 shares during the last quarter. Finally, Legacy Financial Strategies LLC grew its position in Meta Platforms by 24.7% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,895 shares of the social networking company’s stock valued at $1,085,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock worth $132,421,828 in the last three months. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on META. Roth Mkm upped their target price on shares of Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Raymond James boosted their price objective on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Monness Crespi & Hardt upped their price objective on Meta Platforms from $570.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Price Performance

META stock opened at $576.47 on Monday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The business has a fifty day moving average of $546.53 and a two-hundred day moving average of $508.77.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $3.23 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.