Kingswood Wealth Advisors LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 376.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,432 shares of the social networking company's stock after purchasing an additional 85,691 shares during the quarter. Meta Platforms comprises about 2.4% of Kingswood Wealth Advisors LLC's holdings, making the stock its 6th biggest holding. Kingswood Wealth Advisors LLC's holdings in Meta Platforms were worth $63,383,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of META. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $45,000. Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms during the fourth quarter worth about $47,000. Finally, Principia Wealth Advisory LLC boosted its stake in Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In other news, COO Javier Olivan sold 608 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer now owns 70,040 shares in the company, valued at approximately $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,031 shares of company stock worth $73,954,565. Insiders own 13.61% of the company's stock.
Meta Platforms Stock Down 1.9%
META stock traded down $13.42 during midday trading on Friday, reaching $682.35. 22,498,010 shares of the company were exchanged, compared to its average volume of 14,546,632. 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 1-year low of $442.65 and a 1-year high of $740.91. The stock's 50-day simple moving average is $618.10 and its 200 day simple moving average is $623.08. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26.
Meta Platforms (NASDAQ:META - Get Free Report) last released 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. 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 firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $4.71 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. The ex-dividend date is Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Wall Street Analysts Forecast Growth
META has been the subject of several research analyst reports. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Loop Capital increased their price target on shares of Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Bank of America increased their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $675.00 to $735.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $710.00.
Read Our Latest Research Report on Meta Platforms
Meta Platforms Company Profile
(
Free Report)
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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