KPP Advisory Services LLC Has $2.57 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

KPP Advisory Services LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 25.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,466 shares of the social networking company's stock after purchasing an additional 903 shares during the period. KPP Advisory Services LLC's holdings in Meta Platforms were worth $2,574,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Western Financial Corp CA increased its position in Meta Platforms by 6.8% during the first quarter. Western Financial Corp CA now owns 7,990 shares of the social networking company's stock worth $4,605,000 after buying an additional 510 shares during the last quarter. Madrona Financial Services LLC boosted its stake in shares of Meta Platforms by 53.2% in the first quarter. Madrona Financial Services LLC now owns 1,373 shares of the social networking company's stock valued at $792,000 after buying an additional 477 shares during the period. Goldstein Advisors LLC lifted its stake in Meta Platforms by 16.4% during the first quarter. Goldstein Advisors LLC now owns 2,055 shares of the social networking company's stock worth $1,184,000 after purchasing an additional 290 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its stake in Meta Platforms by 5.1% during the first quarter. Penobscot Investment Management Company Inc. now owns 15,309 shares of the social networking company's stock worth $8,823,000 after purchasing an additional 749 shares during the last quarter. Finally, Flavin Financial Services Inc. lifted its stake in shares of Meta Platforms by 5.5% in the 1st quarter. Flavin Financial Services Inc. now owns 3,101 shares of the social networking company's stock valued at $1,787,000 after acquiring an additional 162 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $733.63 on Monday. The firm has a 50 day moving average price of $638.51 and a 200-day moving average price of $626.45. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $742.32. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.80 and a beta of 1.26. 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 (NASDAQ:META - Get Free Report) last announced its quarterly earnings data 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the previous year, the business earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $704.89, for a total value of $365,837.91. Following the completion of the sale, the insider now owns 28,145 shares of the company's stock, valued at approximately $19,839,129.05. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the completion of the sale, the chief executive officer now directly owns 57,533 shares of the company's stock, valued at approximately $40,862,237.92. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,223 shares of company stock valued at $83,526,550. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on META. Cantor Fitzgerald increased their price target on Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Citigroup increased their price objective on Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on Meta Platforms from $685.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer lifted their price target on Meta Platforms from $665.00 to $775.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $719.52.

About Meta Platforms

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.