Keel Point LLC Has $6.92 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Keel Point LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,821 shares of the social networking company's stock after selling 559 shares during the quarter. Keel Point LLC's holdings in Meta Platforms were worth $6,921,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of META. Norges Bank bought a new stake in Meta Platforms in the 4th quarter valued at $19,949,512,000. Proficio Capital Partners LLC increased its stake in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares during the period. Raymond James Financial Inc. acquired a new position in Meta Platforms in the fourth quarter worth about $2,243,603,000. Northern Trust Corp lifted its stake in Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company's stock valued at $5,211,967,000 after purchasing an additional 1,892,509 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JMP Securities restated a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a research report on Wednesday. Wells Fargo & Company reduced their target price on shares of Meta Platforms from $752.00 to $664.00 and set an "overweight" rating on the stock in a research note on Thursday. Monness Crespi & Hardt increased their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Susquehanna decreased their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $688.63.

Meta Platforms Stock Up 4.3 %

Shares of META traded up $24.81 on Friday, hitting $597.02. The company's stock had a trading volume of 24,702,127 shares, compared to its average volume of 14,463,489. The firm's fifty day moving average price is $575.29 and its 200-day moving average price is $603.62. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. The business's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is 8.78%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $702.24, for a total transaction of $635,527.20. Following the completion of the transaction, the insider now directly owns 28,390 shares of the company's stock, valued at $19,936,593.60. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 406 shares of Meta Platforms stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares in the company, valued at $2,265,707.52. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,017 shares of company stock valued at $167,207,524 over the last three months. Company insiders own 13.71% of the company's stock.

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.