Krane Funds Advisors LLC Purchases 383 Shares of Meta Platforms, Inc. (NASDAQ:META)

Krane Funds Advisors LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,951 shares of the social networking company’s stock after acquiring an additional 383 shares during the period. Krane Funds Advisors LLC’s holdings in Meta Platforms were worth $1,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Halpern Financial Inc. purchased a new position in shares of Meta Platforms during the third quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms during the third quarter valued at about $49,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on META. Benchmark restated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. TD Cowen upped their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a report on Wednesday, October 9th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $619.20.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 249,912 shares of company stock valued at $132,027,612 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 3.1 %

META opened at $563.69 on Thursday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $602.95. The company has a market capitalization of $1.43 trillion, a PE ratio of 32.38, a PEG ratio of 1.45 and a beta of 1.22. The firm’s 50 day simple moving average is $548.79 and its two-hundred day simple moving average is $509.61.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. 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 (DPR) is presently 11.49%.

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.