KCM Investment Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,721 shares of the social networking company’s stock after acquiring an additional 703 shares during the period. KCM Investment Advisors LLC’s holdings in Meta Platforms were worth $3,264,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC grew its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the last quarter. Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the fourth quarter worth about $39,000. Finally, Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the period. 79.91% of the stock is owned by institutional investors.
Meta Platforms Trading Up 1.1 %
NASDAQ META traded up $5.33 on Monday, reaching $504.20. The stock had a trading volume of 4,214,379 shares, compared to its average volume of 16,112,188. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The stock has a fifty day moving average price of $492.56 and a two-hundred day moving average price of $467.54. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.
Analysts Set New Price Targets
A number of analysts have weighed in on META shares. Royal Bank of Canada lowered their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Truist Financial lowered their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup reduced their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group lowered their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $515.64.
Read Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now directly owns 36,940 shares of the company’s stock, valued at $19,724,113. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 294,278 shares of company stock valued at $146,060,559. 13.71% of the stock is currently owned by corporate 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.
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