Key Client Fiduciary Advisors LLC Has $1.58 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Key Client Fiduciary Advisors LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,748 shares of the social networking company’s stock after selling 53 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Meta Platforms were worth $1,584,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter valued at about $47,000. Finally, Conquis Financial LLC acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META opened at $666.85 on Wednesday. The stock has a market cap of $1.68 trillion, a P/E ratio of 27.88, a P/E/G ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $581.05 and a 200 day simple moving average of $612.48.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same period in the previous year, the firm earned $4.71 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. On average, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s payout ratio is 8.19%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the transaction, the insider now owns 32,103 shares of the company’s stock, valued at approximately $19,269,825.75. The trade was a 2.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,135 shares of company stock valued at $34,481,779. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on META. Jefferies Financial Group dropped their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a report on Monday, April 7th. Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Benchmark cut their price objective on Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Argus set a $775.00 target price on shares of Meta Platforms in a research report on Tuesday, February 4th. Finally, Oppenheimer lifted their price target on shares of Meta Platforms from $650.00 to $665.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $701.05.

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.