Meta Platforms, Inc. (NASDAQ:META) Shares Bought by KKM Financial LLC

KKM Financial LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,431 shares of the social networking company’s stock after acquiring an additional 2,301 shares during the quarter. Meta Platforms comprises about 3.8% of KKM Financial LLC’s investment portfolio, making the stock its 2nd largest position. KKM Financial LLC’s holdings in Meta Platforms were worth $9,035,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in META. Millstone Evans Group LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $45,000. Cordant Inc. bought a new position in Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Conquis Financial LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $59,000. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on META shares. TD Securities decreased their price target on shares of Meta Platforms from $725.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, May 1st. Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Roth Capital lifted their price objective on Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $696.45.

Meta Platforms Stock Performance

META opened at $592.49 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business has a fifty day simple moving average of $568.87 and a 200 day simple moving average of $604.50. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a market capitalization of $1.50 trillion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the company posted $4.71 earnings per share. Meta Platforms’s revenue was up 16.1% compared to the same quarter last year. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.19%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 902 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total value of $643,414.64. Following the transaction, the insider now directly owns 27,488 shares of the company’s stock, valued at $19,607,740.16. This trade represents a 3.18 % decrease in their position. 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 4,706 shares of the company’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,689 shares of company stock worth $109,097,842 in the last 90 days. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

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.