KG&L Capital Management LLC Increases Holdings in Meta Platforms, Inc. (NASDAQ:META)

KG&L Capital Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 22.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,142 shares of the social networking company’s stock after purchasing an additional 2,048 shares during the quarter. Meta Platforms comprises about 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in Meta Platforms by 48.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares during the period. Graypoint LLC raised its stake in Meta Platforms by 5.8% in the first quarter. Graypoint LLC now owns 18,773 shares of the social networking company’s stock worth $9,116,000 after buying an additional 1,033 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Meta Platforms by 27.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 575,938 shares of the social networking company’s stock valued at $279,663,000 after acquiring an additional 124,357 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC increased its holdings in shares of Meta Platforms by 8.6% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,941 shares of the social networking company’s stock valued at $1,428,000 after acquiring an additional 232 shares during the period. Finally, Magnolia Capital Advisors LLC raised its position in shares of Meta Platforms by 32.0% in the 1st quarter. Magnolia Capital Advisors LLC now owns 5,781 shares of the social networking company’s stock worth $2,781,000 after acquiring an additional 1,401 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $572.05 on Thursday. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The business has a fifty day moving average of $557.85 and a two-hundred day moving average of $514.31.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $40.21 billion. As a group, research analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $532.21, for a total transaction of $481,650.05. Following the transaction, the insider now directly owns 41,437 shares in the company, valued at $22,053,185.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $532.21, for a total transaction of $481,650.05. Following the completion of the transaction, the insider now directly owns 41,437 shares of the company’s stock, valued at approximately $22,053,185.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,919 shares of company stock valued at $129,296,067. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. TD Cowen lifted their price target 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. Citigroup upped their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer raised their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.