KDK Private Wealth Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the social networking company's stock, valued at approximately $1,171,000. Meta Platforms makes up approximately 1.2% of KDK Private Wealth Management LLC's portfolio, making the stock its 17th largest position.
Several other large investors have also recently bought and sold shares of the stock. Howard Capital Management Group LLC raised its stake in Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after purchasing an additional 251 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Meta Platforms by 6.5% in the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Meta Platforms by 9.1% in the third quarter. SOA Wealth Advisors LLC. now owns 3,219 shares of the social networking company's stock valued at $1,842,000 after buying an additional 269 shares during the period. Aldebaran Financial Inc. grew its position in Meta Platforms by 10.2% during the third quarter. Aldebaran Financial Inc. now owns 2,853 shares of the social networking company's stock worth $1,633,000 after buying an additional 264 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its stake in Meta Platforms by 9.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 17,048 shares of the social networking company's stock worth $9,704,000 after acquiring an additional 1,480 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Price Performance
Shares of META traded down $10.19 during midday trading on Tuesday, reaching $521.29. The stock had a trading volume of 8,589,038 shares, compared to its average volume of 14,751,294. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company's 50-day moving average is $624.88 and its 200 day moving average is $609.15. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $5.33 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is 8.78%.
Wall Street Analysts Forecast Growth
META has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $790.00 price target on shares of Meta Platforms in a research report on Wednesday, April 2nd. Morgan Stanley raised their target price on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, January 13th. KeyCorp dropped their price objective on Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Wolfe Research lifted their target price on Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Truist Financial raised their price target on shares of Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned 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 $692.93.
View Our Latest Stock Analysis on Meta Platforms
Insider Transactions at Meta Platforms
In other news, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $616.16, for a total transaction of $22,133,083.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total value of $559,290.00. Following the completion of the sale, the insider now directly owns 30,200 shares in the company, valued at $18,663,600. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 450,214 shares of company stock worth $304,162,130. Company insiders own 13.71% of the company's stock.
About Meta Platforms
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Free Report)
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.
Further Reading
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