KPP Advisory Services LLC Decreases Stake in Meta Platforms, Inc. (NASDAQ:META)

KPP Advisory Services LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,339 shares of the social networking company’s stock after selling 211 shares during the quarter. KPP Advisory Services LLC’s holdings in Meta Platforms were worth $1,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management increased its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. increased its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Jennison Associates LLC raised its holdings in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in Meta Platforms during the second quarter worth $595,152,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. JMP Securities lifted their target price on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 26th. Guggenheim increased their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer raised their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $593.28.

Meta Platforms Trading Up 0.9 %

NASDAQ META opened at $572.44 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $577.40. The company’s 50 day moving average price is $517.89 and its 200 day moving average price is $500.20. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 32.88, a PEG ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced 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 currently 11.49%.

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, July 3rd. The stock was sold at an average price of $509.10, for a total value of $8,502,988.20. Following the completion of the transaction, the chief executive officer now owns 186,826 shares in the company, valued at approximately $95,113,116.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $512.00, for a total transaction of $210,944.00. Following the sale, the chief operating officer now directly owns 6,795 shares of the company’s stock, valued at $3,479,040. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $509.10, for a total value of $8,502,988.20. Following the completion of the transaction, the chief executive officer now directly owns 186,826 shares of the company’s stock, valued at approximately $95,113,116.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 324,751 shares of company stock worth $170,575,643. 13.71% of the stock is currently owned by company insiders.

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.