Key Client Fiduciary Advisors LLC Acquires 571 Shares of Meta Platforms, Inc. (NASDAQ:META)

Key Client Fiduciary Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,616 shares of the social networking company’s stock after purchasing an additional 571 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Meta Platforms were worth $1,497,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of META. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors raised its stake in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares during the last quarter. Capital Research Global Investors lifted its holdings in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC boosted its position 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 valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $576.47 on Monday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $546.53 and a 200-day moving average of $508.77. The firm has a market cap of $1.46 trillion, a P/E ratio of 33.11, a PEG ratio of 1.45 and a beta of 1.22.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock worth $132,421,828 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Monness Crespi & Hardt raised their price target on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $617.37.

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.