Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by L.M. Kohn & Company

L.M. Kohn & Company increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,279 shares of the social networking company’s stock after purchasing an additional 343 shares during the quarter. L.M. Kohn & Company’s holdings in Meta Platforms were worth $1,877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC acquired a new position in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its stake in shares of Meta Platforms by 221.9% in the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the transaction, the insider now directly owns 37,790 shares in the company, valued at $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,239 shares of company stock worth $59,681,541 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.9 %

Shares of NASDAQ:META opened at $574.32 on Friday. The company has a market capitalization of $1.45 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.25 and a beta of 1.22. The stock’s fifty day simple moving average is $575.21 and its 200-day simple moving average is $527.37. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its 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. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on META shares. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Pivotal Research lifted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and set a $675.00 target price on shares of Meta Platforms in a research note on Monday, November 25th. Bank of America increased their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

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.