Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,148 shares of the social networking company’s stock after buying an additional 715 shares during the quarter. Meta Platforms accounts for about 1.9% of Kirtland Hills Capital Management LLC’s portfolio, making the stock its 9th largest holding. Kirtland Hills Capital Management LLC’s holdings in Meta Platforms were worth $3,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $59,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on META shares. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a research note on Thursday, January 30th. The Goldman Sachs Group lifted their price target on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Robert W. Baird boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Truist Financial boosted their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $719.26.

Meta Platforms Stock Down 2.0 %

Meta Platforms stock opened at $655.05 on Tuesday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The stock’s fifty day simple moving average is $654.28 and its 200-day simple moving average is $597.91. 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 capitalization of $1.66 trillion, a P/E ratio of 27.39, a P/E/G ratio of 1.42 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 earnings per share 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 company earned $5.33 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. 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 0.32%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the transaction, the insider now directly owns 308,686 shares in the company, valued at $209,199,589.06. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 796,712 shares of company stock valued at $517,503,564. 13.71% of the stock is currently owned by company 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.