Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by KG&L Capital Management LLC

KG&L Capital Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,987 shares of the social networking company's stock after buying an additional 1,846 shares during the period. Meta Platforms accounts for approximately 2.4% of KG&L Capital Management LLC's investment portfolio, making the stock its 11th largest holding. KG&L Capital Management LLC's holdings in Meta Platforms were worth $7,485,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Valley Financial Group Inc. increased its position in Meta Platforms by 2.4% during the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after buying an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. Maiden Cove Capital LLC grew its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares during the period. Riverwater Partners LLC lifted its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock valued at $335,000 after purchasing an additional 15 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after purchasing an additional 15 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares of the company's stock, valued at $17,268,742.26. This trade represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated 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 of the company's stock, valued at $2,744,547.96. This represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,223 shares of company stock valued at $83,526,550 in the last ninety days. Insiders own 13.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on META shares. Pivotal Research lowered their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their price objective on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Monness Crespi & Hardt upped their target price on Meta Platforms from $775.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup boosted their price target on Meta Platforms from $690.00 to $803.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Stifel Nicolaus upped their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $719.52.

Meta Platforms Stock Up 1.0%

META stock opened at $733.63 on Monday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $742.32. 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 company has a market cap 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 50 day moving average of $638.51 and a two-hundred day moving average of $626.45.

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 (EPS) for the quarter, beating 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the business posted $4.71 EPS. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's 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.

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