Meta Platforms, Inc. (NASDAQ:META) Position Reduced by Kaye Capital Management

Kaye Capital Management reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 625 shares of the social networking company’s stock after selling 50 shares during the period. Kaye Capital Management’s holdings in Meta Platforms were worth $366,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms in the 3rd quarter valued at about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter worth approximately $41,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth approximately $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group boosted their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley raised their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Roth Mkm boosted their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities raised their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Stock Up 0.2 %

Shares of META stock opened at $612.77 on Friday. The stock has a market cap of $1.55 trillion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a fifty day moving average price of $596.78 and a 200 day moving average price of $556.71. Meta Platforms, Inc. has a one year low of $370.95 and a one year high of $638.40.

Meta Platforms (NASDAQ:META) last issued its earnings results 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. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s payout ratio is presently 9.42%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the completion of the transaction, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold 496,174 shares of company stock worth $301,408,499 in the last 90 days. 13.71% of the stock is owned by company insiders.

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.