KPP Advisory Services LLC Buys 126 Shares of Meta Platforms, Inc. (NASDAQ:META)

KPP Advisory Services LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,465 shares of the social networking company’s stock after purchasing an additional 126 shares during the quarter. KPP Advisory Services LLC’s holdings in Meta Platforms were worth $1,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of META. Central Valley Advisors LLC grew its position in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC grew its position in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC grew its position in Meta Platforms by 0.7% in the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after acquiring an additional 18 shares in the last quarter. Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% in the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Meta Platforms by 0.5% in the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock worth $2,038,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.1 %

NASDAQ:META opened at $554.40 on Tuesday. The company’s 50 day moving average price is $569.10 and its 200-day moving average price is $521.96. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the transaction, the chief executive officer now owns 28,838 shares in the company, valued at $15,377,575.12. The trade was a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,593 shares of company stock worth $75,253,970. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on META shares. Piper Sandler upped their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Mizuho upped their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Oppenheimer upped their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

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.