Klingman & Associates LLC Buys 570 Shares of Meta Platforms, Inc. (NASDAQ:META)

Klingman & Associates LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,618 shares of the social networking company’s stock after acquiring an additional 570 shares during the period. Klingman & Associates LLC’s holdings in Meta Platforms were worth $2,704,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in META. Ballentine Partners LLC increased its position in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. boosted its stake in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 0.9% in the third 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 buying an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its position in Meta Platforms by 111.4% during the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares during the last quarter. Finally, Apollon Financial LLC raised its stake in shares of Meta Platforms by 11.1% during the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of research reports. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Robert W. Baird boosted their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research raised their price target on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $719.26.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the transaction, the chief operating officer now directly owns 19,166 shares in the company, valued at approximately $11,068,173.34. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 812,422 shares of company stock valued at $525,534,818 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 2.3 %

Meta Platforms stock opened at $668.13 on Tuesday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The business’s fifty day simple moving average is $647.97 and its two-hundred day simple moving average is $593.08. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the business posted $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio is presently 8.78%.

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.