Klingman & Associates LLC Purchases 570 Shares of Meta Platforms, Inc. (NASDAQ:META)

Klingman & Associates LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,618 shares of the social networking company’s stock after acquiring an additional 570 shares during the quarter. Klingman & Associates LLC’s holdings in Meta Platforms were worth $2,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Investment Consultants LLC grew its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after acquiring an additional 1,066,437 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the period. Finally, National Pension Service increased its stake in shares of Meta Platforms by 14.6% in the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock worth $2,471,822,000 after purchasing an additional 550,852 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 812,422 shares of company stock valued at $525,534,818. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $668.13 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.42 and a beta of 1.20. The firm’s 50-day moving average is $647.97 and its 200 day moving average is $593.08.

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

Meta Platforms Increases Dividend

The firm also recently announced 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. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Analyst Ratings Changes

Several equities analysts recently weighed in on META shares. UBS Group lifted their target price on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Bank of America boosted their price objective on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Pivotal Research upped their price target on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $719.26.

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.