Davidson Kahn Capital Management LLC Buys 737 Shares of Meta Platforms, Inc. (NASDAQ:META)

Davidson Kahn Capital Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,497 shares of the social networking company's stock after buying an additional 737 shares during the period. Meta Platforms comprises 2.4% of Davidson Kahn Capital Management LLC's portfolio, making the stock its 12th biggest holding. Davidson Kahn Capital Management LLC's holdings in Meta Platforms were worth $3,169,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in Meta Platforms during the first quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms during the fourth quarter worth about $45,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the fourth quarter valued at approximately $47,000. Institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $808.00 target price (up previously from $650.00) on shares of Meta Platforms in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Wednesday, April 30th. Susquehanna cut their target price on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $740.00 target price on shares of Meta Platforms in a research note on Thursday, May 1st. Finally, Citigroup lifted their target price on shares of Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $719.52.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the sale, the chief technology officer now directly owns 1,183 shares of the company's stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 608 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the completion of the sale, the chief operating officer now directly owns 6,230 shares in the company, valued at $3,507,676.90. This represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,831 shares of company stock valued at $83,868,872 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 1.0%

META traded up $7.54 during trading on Friday, reaching $733.63. 18,758,104 shares of the company's stock were exchanged, compared to its average volume of 14,525,798. The company's fifty day moving average price is $633.87 and its 200-day moving average price is $625.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.84 trillion, a PE ratio of 28.61, a P/E/G ratio of 1.74 and a beta of 1.26.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $4.71 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is 8.19%.

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.