Knollwood Investment Advisory LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.3% during the 1st quarter, HoldingsChannel reports. The firm owned 52,633 shares of the social networking company’s stock after buying an additional 170 shares during the period. Meta Platforms comprises approximately 3.4% of Knollwood Investment Advisory LLC’s holdings, making the stock its 5th biggest position. Knollwood Investment Advisory LLC’s holdings in Meta Platforms were worth $30,336,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GM Advisory Group LLC boosted its stake in Meta Platforms by 2.6% during the 1st quarter. GM Advisory Group LLC now owns 15,307 shares of the social networking company’s stock worth $8,822,000 after purchasing an additional 392 shares during the last quarter. GDS Wealth Management boosted its stake in Meta Platforms by 4.3% during the 1st quarter. GDS Wealth Management now owns 27,312 shares of the social networking company’s stock worth $15,742,000 after purchasing an additional 1,115 shares during the last quarter. Tradition Wealth Management LLC boosted its stake in Meta Platforms by 20.2% during the 1st quarter. Tradition Wealth Management LLC now owns 3,767 shares of the social networking company’s stock worth $2,171,000 after purchasing an additional 634 shares during the last quarter. Vertex Planning Partners LLC boosted its stake in Meta Platforms by 2.0% during the 1st quarter. Vertex Planning Partners LLC now owns 1,032 shares of the social networking company’s stock worth $595,000 after purchasing an additional 20 shares during the last quarter. Finally, Heritage Financial Services LLC boosted its stake in Meta Platforms by 62.4% during the 1st quarter. Heritage Financial Services LLC now owns 898 shares of the social networking company’s stock worth $518,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Trading Down 1.2%
NASDAQ META opened at $739.10 on Friday. The firm’s 50-day moving average is $728.87 and its two-hundred day moving average is $657.34. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $1.86 trillion, a P/E ratio of 26.76, a PEG ratio of 1.55 and a beta of 1.27.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 7.60%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on META shares. UBS Group boosted their price target on shares of Meta Platforms from $812.00 to $897.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Canaccord Genuity Group boosted their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. BMO Capital Markets boosted their price target on shares of Meta Platforms from $610.00 to $710.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Finally, KeyCorp boosted their price target on shares of Meta Platforms from $800.00 to $905.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $822.41.
Get Our Latest Analysis on Meta Platforms
Insider Activity at Meta Platforms
In other Meta Platforms news, CFO Susan J. Li sold 18,332 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the sale, the chief financial officer directly owned 84,141 shares in the company, valued at $64,343,464.11. This represents a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 11,694 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the sale, the chief technology officer owned 1,799 shares in the company, valued at $1,394,225. This trade represents a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 313,803 shares of company stock valued at $235,276,424. 13.61% of the stock is owned by company insiders.
Meta Platforms Company 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.
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