Klingenstein Fields & Co. LP Purchases 18,624 Shares of Meta Platforms, Inc. (NASDAQ:META)

Klingenstein Fields & Co. LP grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 231.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,670 shares of the social networking company’s stock after acquiring an additional 18,624 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Meta Platforms were worth $15,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Delos Wealth Advisors LLC grew its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new position in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Meta Platforms during the third quarter valued at approximately $46,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the transaction, the chief executive officer now owns 72,473 shares in the company, valued at approximately $38,302,705.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the sale, the insider now owns 41,437 shares in the company, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the transaction, the chief executive officer now owns 72,473 shares of the company’s stock, valued at approximately $38,302,705.23. The trade was 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 three months. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Down 0.1 %

NASDAQ:META opened at $572.05 on Thursday. The firm has a 50 day moving average of $557.85 and a 200 day moving average of $514.31. 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 52 week low of $313.66 and a 52 week high of $602.95. The stock has a market capitalization 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 issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on META. Deutsche Bank Aktiengesellschaft boosted their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Oppenheimer raised their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a report on Thursday, September 26th. Finally, KeyCorp boosted their target price on Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.