Keel Point LLC Has $2.85 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Keel Point LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 20.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,062 shares of the social networking company’s stock after acquiring an additional 1,372 shares during the period. Keel Point LLC’s holdings in Meta Platforms were worth $2,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Stockton raised its stake in Meta Platforms by 9.2% in the 4th quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after purchasing an additional 400 shares in the last quarter. Signify Wealth bought a new position in Meta Platforms in the 4th quarter valued at about $228,000. Investment Research & Advisory Group Inc. increased its holdings in Meta Platforms by 1.5% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 10,962 shares of the social networking company’s stock valued at $3,880,000 after buying an additional 164 shares during the period. Syntegra Private Wealth Group LLC bought a new position in Meta Platforms in the 4th quarter valued at about $269,000. Finally, First National Bank of Hutchinson increased its holdings in Meta Platforms by 4.1% in the 4th quarter. First National Bank of Hutchinson now owns 2,963 shares of the social networking company’s stock valued at $1,049,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.2 %

Shares of NASDAQ META opened at $499.47 on Tuesday. The firm has a market cap of $1.27 trillion, a PE ratio of 33.57, a P/E/G ratio of 1.31 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $207.13 and a 12-month high of $531.49. The company’s fifty day simple moving average is $492.26 and its 200 day simple moving average is $394.61. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $364.99, for a total transaction of $7,183,368.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 9,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $388.90, for a total transaction of $3,500,100.00. Following the transaction, the chief operating officer now owns 79,935 shares in the company, valued at $31,086,721.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total transaction of $7,183,368.19. The disclosure for this sale can be found here. Insiders have sold a total of 1,459,469 shares of company stock valued at $691,726,161 over the last ninety days. 14.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on META. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Susquehanna lifted their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Wedbush lifted their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Citigroup lifted their price target on shares of Meta Platforms from $525.00 to $590.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $509.28.

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.