Kennon Green & Company LLC Has $8.78 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Kennon Green & Company LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 15.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,238 shares of the social networking company's stock after selling 2,765 shares during the period. Meta Platforms comprises approximately 7.2% of Kennon Green & Company LLC's holdings, making the stock its 2nd largest position. Kennon Green & Company LLC's holdings in Meta Platforms were worth $8,783,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of META. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter valued at about $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter worth about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter worth about $45,000. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on META. Raymond James Financial reduced their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald increased their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Susquehanna dropped their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $719.29.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,285 shares of company stock worth $105,518,153 in the last ninety days. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 0.5%

Shares of NASDAQ META opened at $716.91 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company's 50-day simple moving average is $658.89 and its 200-day simple moving average is $629.81. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.

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

Meta Platforms Announces Dividend

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

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.

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