KKM Financial LLC Acquires 2,301 Shares of Meta Platforms, Inc. (NASDAQ:META)

KKM Financial LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,431 shares of the social networking company's stock after acquiring an additional 2,301 shares during the period. Meta Platforms accounts for approximately 3.8% of KKM Financial LLC's portfolio, making the stock its 2nd biggest holding. KKM Financial LLC's holdings in Meta Platforms were worth $9,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Vanguard Group Inc. raised its holdings in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its position in Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares in the last quarter. Capital World Investors grew its stake in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock valued at $23,606,338,000 after buying an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $19,949,512,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In related news, COO Javier Olivan sold 406 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $491.69, for a total value of $199,626.14. Following the completion of the sale, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 19,668 shares of Meta Platforms stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $721.69, for a total value of $14,194,198.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,992 shares of company stock valued at $82,831,650. 13.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Oppenheimer increased their target price on Meta Platforms from $650.00 to $665.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Robert W. Baird lifted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. BMO Capital Markets raised their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Finally, Citigroup raised their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus target price of $696.45.

Meta Platforms Stock Up 2.2%

META traded up $14.24 during trading on Tuesday, reaching $653.67. The stock had a trading volume of 4,770,724 shares, compared to its average volume of 17,505,844. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $568.53 and its two-hundred day moving average is $605.22. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business 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 company's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio is presently 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.