GKV Capital Management Co. Inc. Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• GKV Capital Management Co. Inc. reduced its stake in Meta Platforms by 92.0%, owning just 506 shares valued at $292,000 after selling 5,805 shares in the first quarter.
• Several hedge funds, including Brighton Jones LLC and Revolve Wealth Partners LLC, increased their holdings in Meta Platforms, reflecting ongoing institutional interest in the stock.
• Meta Platforms recently beat analysts' earnings expectations with an EPS of $7.14 and reported a revenue of $47.52 billion, marking a 21.6% year-over-year increase.

GKV Capital Management Co. Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 92.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 506 shares of the social networking company's stock after selling 5,805 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in Meta Platforms were worth $292,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in META. Csenge Advisory Group raised its stake in shares of Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock worth $5,498,000 after buying an additional 1,019 shares in the last quarter. Suvretta Capital Management LLC raised its position in Meta Platforms by 1.1% in the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after acquiring an additional 1,850 shares in the last quarter. Skye Global Management LP raised its position in Meta Platforms by 130.9% in the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after acquiring an additional 43,200 shares in the last quarter. ARQ Wealth Advisors LLC raised its position in Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock worth $452,000 after acquiring an additional 34 shares in the last quarter. Finally, JMG Financial Group Ltd. purchased a new position in Meta Platforms in the first quarter worth $284,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares in the company, valued at $184,059,219.75. The trade was a 20.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,243 shares of company stock worth $200,605,051. 13.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen increased their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wedbush increased their price objective on Meta Platforms from $750.00 to $920.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp increased their price objective on Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Hsbc Global Res raised Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Pivotal Research raised their price objective on Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $822.41.

Meta Platforms Trading Up 0.4%

Meta Platforms stock traded up $3.10 during midday trading on Friday, reaching $785.23. The stock had a trading volume of 13,361,371 shares, compared to its average volume of 12,931,265. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The stock has a market capitalization of $1.97 trillion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The stock's 50-day simple moving average is $724.43 and its 200 day simple moving average is $655.43.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is currently 7.60%.

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.