Key Client Fiduciary Advisors LLC Increases Position in Meta Platforms, Inc. (NASDAQ:META)

Key Client Fiduciary Advisors LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 17.9% during the first quarter, HoldingsChannel reports. The firm owned 1,866 shares of the social networking company’s stock after acquiring an additional 283 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Meta Platforms were worth $906,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC raised its stake in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $32,000. Clear Investment Research LLC raised its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock worth $113,597,536 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on META. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Rosenblatt Securities boosted their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays decreased their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. KeyCorp lifted their price target on shares of Meta Platforms from $475.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Truist Financial decreased their price objective on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $510.05.

Meta Platforms Trading Up 1.3 %

NASDAQ:META opened at $519.56 on Friday. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $479.53 and its 200-day simple moving average is $452.69. The firm has a market cap of $1.32 trillion, a P/E ratio of 29.84, a PEG ratio of 1.33 and a beta of 1.21.

Meta Platforms (NASDAQ:META) 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 the consensus estimate of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Dividend Announcement

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

Meta Platforms Company 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.