Meta Platforms, Inc. (NASDAQ:META) Shares Bought by KG&L Capital Management LLC

KG&L Capital Management LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,142 shares of the social networking company’s stock after buying an additional 2,048 shares during the quarter. Meta Platforms makes up approximately 2.1% of KG&L Capital Management LLC’s portfolio, making the stock its 12th biggest position. KG&L Capital Management LLC’s holdings in Meta Platforms were worth $6,378,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after purchasing an additional 18 shares during the period. Cherrydale Wealth Management LLC increased its position in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC raised its stake in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after acquiring an additional 18 shares during the last quarter. Kozak & Associates Inc. lifted its position in Meta Platforms by 1.0% during the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after purchasing an additional 18 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on META. Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Pivotal Research lifted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two research 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 company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 74,579 shares in the company, valued at $39,285,234.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 in the company, 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 is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now owns 10,294 shares of the company’s stock, valued at approximately $5,842,668.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,919 shares of company stock valued at $129,296,067. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.1 %

Shares of NASDAQ:META opened at $572.05 on Thursday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The stock’s 50-day moving average price is $557.85 and its two-hundred day moving average price is $514.31. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.26 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts forecast that Meta Platforms, Inc. will post 22.44 EPS for the current year.

Meta Platforms Announces Dividend

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

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.