Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,976 shares of the social networking company’s stock after selling 970 shares during the quarter. Meta Platforms accounts for approximately 0.5% of Kennedy Capital Management LLC’s portfolio, making the stock its 21st largest holding. Kennedy Capital Management LLC’s holdings in Meta Platforms were worth $23,406,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter worth $41,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $43,000. Cordant Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $59,000. Finally, Conquis Financial LLC purchased a new stake in shares of Meta Platforms during the fourth quarter valued at $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 14.8 %

Shares of META stock opened at $585.77 on Thursday. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company’s fifty day moving average price is $634.58 and its 200-day moving average price is $609.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the firm posted $5.33 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is presently 8.78%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $606.77, for a total transaction of $250,596.01. Following the completion of the sale, the chief operating officer now directly owns 16,688 shares in the company, valued at $10,125,777.76. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 499,507 shares of company stock valued at $334,165,387. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Piper Sandler cut their target price on Meta Platforms from $775.00 to $610.00 and set an “overweight” rating for the company in a research report on Thursday. Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. DA Davidson lifted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wedbush restated an “outperform” rating and issued a $770.00 price target (up from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $704.62.

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.