Kaizen Financial Strategies Buys 586 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kaizen Financial Strategies grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 57.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,599 shares of the social networking company’s stock after acquiring an additional 586 shares during the quarter. Kaizen Financial Strategies’ holdings in Meta Platforms were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of META. Norges Bank bought a new position in Meta Platforms in the fourth quarter worth $4,223,148,000. Morgan Stanley bought a new position in Meta Platforms in the fourth quarter worth $4,072,543,000. Moneta Group Investment Advisors LLC bought a new position in Meta Platforms in the fourth quarter worth $1,796,633,000. Legal & General Group Plc bought a new position in Meta Platforms in the fourth quarter worth $1,731,491,000. Finally, FMR LLC lifted its position in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the period. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on META shares. The Goldman Sachs Group increased their price objective on Meta Platforms from $414.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Tigress Financial increased their price objective on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. BMO Capital Markets increased their price objective on Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company raised their target price on Meta Platforms from $536.00 to $609.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Wolfe Research raised their target price on Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.35.

Insider Buying and Selling

In related news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $513.32, for a total transaction of $251,526.80. Following the transaction, the chief operating officer now directly owns 10,029 shares of the company’s stock, valued at approximately $5,148,086.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $513.32, for a total value of $251,526.80. Following the completion of the sale, the chief operating officer now owns 10,029 shares of the company’s stock, valued at $5,148,086.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,504,435 shares of company stock valued at $703,629,367. 13.75% of the stock is owned by insiders.

Meta Platforms Stock Down 1.0 %

Meta Platforms stock traded down $4.74 during midday trading on Thursday, reaching $489.12. The stock had a trading volume of 9,126,516 shares, compared to its average volume of 17,803,041. The firm’s fifty day simple moving average is $464.84 and its 200-day simple moving average is $375.30. Meta Platforms, Inc. has a 1-year low of $202.54 and a 1-year high of $523.57. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last announced its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. Meta Platforms’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.00 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 19.94 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is presently 13.42%.

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.