Key Financial Inc Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Key Financial Inc cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,262 shares of the social networking company’s stock after selling 69 shares during the period. Key Financial Inc’s holdings in Meta Platforms were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in META. China Universal Asset Management Co. Ltd. grew its holdings in shares of Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after purchasing an additional 16,138 shares during the last quarter. Rockline Wealth Management LLC grew its holdings in Meta Platforms by 6.5% in the 1st quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock worth $7,158,000 after acquiring an additional 904 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in shares of Meta Platforms by 5.4% in the first quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock valued at $1,017,000 after acquiring an additional 107 shares during the period. Crown Wealth Group LLC raised its stake in shares of Meta Platforms by 13.3% during the first quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock valued at $916,000 after acquiring an additional 221 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of Meta Platforms by 16.1% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock worth $1,604,000 after purchasing an additional 459 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 2.1 %

Shares of Meta Platforms stock opened at $572.43 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The company’s 50 day moving average is $556.78 and its 200 day moving average is $513.67.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $40.21 billion. Research analysts anticipate that Meta Platforms, Inc. will post 22.44 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $513.09, for a total value of $8,569,629.18. Following the transaction, the chief executive officer now directly owns 98,654 shares of the company’s stock, valued at approximately $50,618,380.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,919 shares of company stock valued at $129,296,067 in the last quarter. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Morgan Stanley raised their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

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.