KPP Advisory Services LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

KPP Advisory Services LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,339 shares of the social networking company’s stock after selling 211 shares during the quarter. KPP Advisory Services LLC’s holdings in Meta Platforms were worth $1,683,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in META. Vantage Financial Partners LLC increased its stake in Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after acquiring an additional 41 shares during the last quarter. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Rollins Financial raised its holdings in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares during the period. Prudent Man Advisors LLC acquired a new position in Meta Platforms in the fourth quarter valued at about $533,000. Finally, Jones Financial Companies Lllp boosted its stake in Meta Platforms by 16.9% during the fourth quarter. Jones Financial Companies Lllp now owns 31,943 shares of the social networking company’s stock worth $11,307,000 after buying an additional 4,612 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $572.44 on Tuesday. The company’s 50 day simple moving average is $517.89 and its 200-day simple moving average is $500.20. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $577.40. The firm has a market cap of $1.45 trillion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business posted $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares of the company’s stock, valued at $19,724,113. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,751 shares of company stock valued at $170,575,643. 13.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Monness Crespi & Hardt upped their price target on Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus raised their price target on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wolfe Research started coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Meta Platforms from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $593.28.

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.