Keudell Morrison Wealth Management Acquires 82 Shares of Meta Platforms, Inc. (NASDAQ:META)

Keudell Morrison Wealth Management grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the social networking company’s stock after purchasing an additional 82 shares during the period. Keudell Morrison Wealth Management’s holdings in Meta Platforms were worth $1,641,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Richardson Financial Services Inc. grew its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Meta Platforms during the 1st quarter worth $44,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now directly owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the completion of the sale, the insider now directly owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,174 shares of company stock valued at $175,146,777. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

META traded up $9.85 on Thursday, reaching $536.61. 10,366,104 shares of the company’s stock were exchanged, compared to its average volume of 16,356,326. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The stock has a market cap of $1.36 trillion, a PE ratio of 30.92, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock’s fifty day moving average price is $498.92 and its 200-day moving average price is $485.97.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Sell-side analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

Several brokerages have issued reports on META. Citigroup increased their target price on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BNP Paribas began coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 target price on the stock. Barclays raised their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $572.51.

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.