L.M. Kohn & Company Acquires 343 Shares of Meta Platforms, Inc. (NASDAQ:META)

L.M. Kohn & Company increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,279 shares of the social networking company’s stock after purchasing an additional 343 shares during the quarter. L.M. Kohn & Company’s holdings in Meta Platforms were worth $1,877,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter valued at $49,000. Finally, NewSquare Capital LLC increased its position in Meta Platforms by 221.9% in the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of recent research reports. Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Loop Capital lifted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Citigroup upped their price objective on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Susquehanna increased their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $634.71.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares in the company, valued at $11,018,473.83. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total value of $511,596.50. Following the sale, the insider now directly owns 37,790 shares in the company, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,239 shares of company stock valued at $59,681,541. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.9 %

NASDAQ:META opened at $574.32 on Friday. The company’s 50 day moving average is $575.21 and its two-hundred day moving average is $527.37. The company has a market cap of $1.45 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Meta Platforms 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.