KMG Fiduciary Partners LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,850 shares of the social networking company's stock after selling 1,720 shares during the period. Meta Platforms comprises about 2.1% of KMG Fiduciary Partners LLC's investment portfolio, making the stock its 9th largest position. KMG Fiduciary Partners LLC's holdings in Meta Platforms were worth $25,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Fiera Capital Corp grew its holdings in shares of Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company's stock worth $13,751,000 after purchasing an additional 7,089 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in Meta Platforms by 0.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 27,122 shares of the social networking company's stock worth $13,675,000 after acquiring an additional 207 shares during the last quarter. Andar Capital Management HK Ltd acquired a new stake in Meta Platforms in the 2nd quarter valued at about $5,446,000. RPg Family Wealth Advisory LLC raised its stake in shares of Meta Platforms by 1.2% in the second quarter. RPg Family Wealth Advisory LLC now owns 16,519 shares of the social networking company's stock worth $8,329,000 after acquiring an additional 199 shares during the last quarter. Finally, Meridian Wealth Partners LLC lifted its position in shares of Meta Platforms by 6.7% during the second quarter. Meridian Wealth Partners LLC now owns 2,882 shares of the social networking company's stock worth $1,453,000 after purchasing an additional 182 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now owns 32,387 shares of the company's stock, valued at approximately $18,612,808.90. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock valued at $301,408,499 over the last ninety days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
Shares of Meta Platforms stock traded up $1.47 during trading on Friday, hitting $612.77. 17,239,131 shares of the stock were exchanged, compared to its average volume of 10,812,479. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. The stock has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a fifty day moving average price of $596.78 and a 200-day moving average price of $556.71. 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 released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms's dividend payout ratio is 9.42%.
Analysts Set New Price Targets
META has been the topic of several research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price target on Meta Platforms from $660.00 to $725.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Barclays lifted their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Raymond James reaffirmed a "strong-buy" rating and issued a $675.00 target price on shares of Meta Platforms in a research note on Monday, November 25th. Finally, Stifel Nicolaus boosted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $650.05.
Get Our Latest Stock Report on META
About Meta Platforms
(
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.
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