Meta Platforms, Inc. (NASDAQ:META) is Kentucky Retirement Systems’ 5th Largest Position

Kentucky Retirement Systems decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,132 shares of the social networking company’s stock after selling 2,068 shares during the period. Meta Platforms accounts for approximately 2.6% of Kentucky Retirement Systems’ investment portfolio, making the stock its 5th largest position. Kentucky Retirement Systems’ holdings in Meta Platforms were worth $87,904,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in META. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $665.75, for a total transaction of $613,155.75. Following the transaction, the insider now owns 34,866 shares of the company’s stock, valued at approximately $23,212,039.50. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 813,951 shares of company stock worth $526,565,232. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 2.3 %

META opened at $658.24 on Friday. The stock has a market capitalization of $1.67 trillion, a PE ratio of 27.52, a P/E/G ratio of 1.42 and a beta of 1.20. The firm’s fifty day moving average price is $651.52 and its 200 day moving average price is $595.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the business earned $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Scotiabank raised their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Wolfe Research lifted their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Meta Platforms Company 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.