Meta Platforms, Inc. (NASDAQ:META) is KMG Fiduciary Partners LLC’s 9th Largest Position

KMG Fiduciary Partners LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,649 shares of the social networking company’s stock after selling 2,201 shares during the quarter. Meta Platforms comprises 2.0% of KMG Fiduciary Partners LLC’s portfolio, making the stock its 9th largest position. KMG Fiduciary Partners LLC’s holdings in Meta Platforms were worth $24,005,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of META. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms during the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC grew its stake in Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company’s stock worth $50,000 after buying an additional 30 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on META. Evercore ISI boosted their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Wedbush upped their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Pivotal Research lowered their price target on shares of Meta Platforms from $875.00 to $830.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital raised their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $702.48.

Meta Platforms Trading Up 1.9%

Shares of NASDAQ:META opened at $697.71 on Monday. The company has a market cap of $1.75 trillion, a PE ratio of 29.17, a P/E/G ratio of 1.42 and a beta of 1.26. The company’s 50-day moving average price is $587.67 and its 200 day moving average price is $615.55. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week 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.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. Meta Platforms’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Monday, June 16th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms’s dividend payout ratio is presently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 6,874 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares of the company’s stock, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 406 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the transaction, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,563 shares of company stock worth $34,793,185 in the last ninety days. 13.61% of the stock is owned by insiders.

About Meta Platforms

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.