KCM Investment Advisors LLC Sells 101 Shares of Meta Platforms, Inc. (NASDAQ:META)

KCM Investment Advisors LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,751 shares of the social networking company’s stock after selling 101 shares during the quarter. KCM Investment Advisors LLC’s holdings in Meta Platforms were worth $3,865,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,593 shares of company stock worth $75,253,970. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the topic of several research reports. Robert W. Baird boosted their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Susquehanna lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Hsbc Global Res raised Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Up 0.1 %

META stock opened at $554.40 on Tuesday. The firm has a market capitalization of $1.40 trillion, a PE ratio of 26.11, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The stock’s 50 day moving average is $569.10 and its 200-day moving average is $521.96.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid 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 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 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.