Klingenstein Fields & Co. LP Has $15.58 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Klingenstein Fields & Co. LP cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,600 shares of the social networking company’s stock after selling 70 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Meta Platforms were worth $15,575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of META. AMF Tjanstepension AB raised its stake in shares of Meta Platforms by 32.5% during the 3rd quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock worth $261,680,000 after purchasing an additional 112,047 shares in the last quarter. Howard Capital Management Group LLC increased its position in Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after buying an additional 251 shares during the period. Evernest Financial Advisors LLC increased its position in Meta Platforms by 13.5% in the 3rd quarter. Evernest Financial Advisors LLC now owns 1,543 shares of the social networking company’s stock worth $883,000 after buying an additional 184 shares during the period. Waterway Wealth Management LLC grew its holdings in shares of Meta Platforms by 146.1% during the 3rd quarter. Waterway Wealth Management LLC now owns 1,137 shares of the social networking company’s stock worth $651,000 after purchasing an additional 675 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV grew its holdings in shares of Meta Platforms by 6.4% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 1,095 shares of the social networking company’s stock worth $627,000 after purchasing an additional 66 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of Meta Platforms 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 completion of the transaction, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders have sold a total of 810,217 shares of company stock valued at $523,808,864 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler boosted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Mizuho upped their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Sanford C. Bernstein boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada upped their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $694.84 on Friday. The business’s 50 day moving average is $645.83 and its 200-day moving average is $589.12. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.76 trillion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is 8.36%.

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.