KKM Financial LLC Purchases 988 Shares of Meta Platforms, Inc. (NASDAQ:META)

KKM Financial LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,130 shares of the social networking company’s stock after purchasing an additional 988 shares during the period. Meta Platforms accounts for 3.7% of KKM Financial LLC’s investment portfolio, making the stock its 2nd biggest position. KKM Financial LLC’s holdings in Meta Platforms were worth $7,516,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP grew its position in Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Meta Platforms by 0.3% during the third quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after purchasing an additional 17,100 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Pivotal Research boosted their price target on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Trading Up 1.1 %

Shares of META stock opened at $565.11 on Tuesday. 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 50-day simple moving average of $573.38 and a 200 day simple moving average of $525.35. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,218 shares of company stock worth $65,819,414 in the last three months. 13.71% of the stock is currently owned by insiders.

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.