Cohen Klingenstein LLC Sells 1,800 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cohen Klingenstein LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,812 shares of the social networking company's stock after selling 1,800 shares during the quarter. Meta Platforms accounts for approximately 1.6% of Cohen Klingenstein LLC's holdings, making the stock its 14th biggest holding. Cohen Klingenstein LLC's holdings in Meta Platforms were worth $47,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter worth $41,000. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms in the 3rd quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total value of $547,108.70. Following the sale, the insider now owns 31,105 shares in the company, valued at $18,804,216.70. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold a total of 496,174 shares of company stock worth $301,408,499 in the last three months. Insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on META. Jefferies Financial Group increased their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. BMO Capital Markets lifted their price target on Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" rating in a research report on Thursday, October 31st. Sanford C. Bernstein upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. KeyCorp raised their price objective on Meta Platforms from $655.00 to $700.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $650.05.

Meta Platforms Price Performance

Shares of META traded up $1.47 during trading hours on Monday, reaching $612.77. 17,239,131 shares of the stock traded hands, compared to its average volume of 10,812,479. The company's 50-day moving average price is $596.78 and its two-hundred day moving average price is $557.04. Meta Platforms, Inc. has a 52-week low of $370.95 and a 52-week high of $638.40. The company has a market cap of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. On average, analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms's payout ratio is currently 9.42%.

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.