2,000 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by KDK Private Wealth Management LLC

KDK Private Wealth Management LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,000 shares of the social networking company’s stock, valued at approximately $1,171,000. Meta Platforms comprises 1.2% of KDK Private Wealth Management LLC’s portfolio, making the stock its 17th largest position.

A number of other hedge funds 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 raised its position in shares of Meta Platforms by 78,471.1% during 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 buying an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Meta Platforms in the fourth quarter valued at about $2,243,603,000. Arrowstreet Capital Limited Partnership grew its position 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 worth $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Meta Platforms by 0.8% during 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 acquiring an additional 1,502,553 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at $2,744,547.96. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $543.39, for a total transaction of $500,462.19. Following the completion of the sale, the insider now owns 29,340 shares of the company’s stock, valued at approximately $15,943,062.60. This represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,453 shares of company stock worth $326,680,904. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 6.7 %

META opened at $546.29 on Friday. The firm has a 50 day simple moving average of $631.56 and a 200 day simple moving average of $609.28. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a market cap of $1.38 trillion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the business posted $5.33 earnings per share. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. Jefferies Financial Group decreased their price objective on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday. Mizuho lifted their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wedbush restated an “outperform” rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Pivotal Research lifted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, UBS Group increased their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $704.62.

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.