Keyvantage Wealth LLC Invests $1.14 Million in Meta Platforms, Inc. (NASDAQ:META)

Keyvantage Wealth LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,939 shares of the social networking company’s stock, valued at approximately $1,135,000. Meta Platforms makes up about 0.8% of Keyvantage Wealth LLC’s portfolio, making the stock its 27th biggest position.

Several other institutional investors have also recently modified their holdings of the stock. Howard Capital Management Group LLC raised its stake in Meta Platforms by 17.9% during the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares during the period. Principal Financial Group Inc. increased its stake in Meta Platforms by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock worth $1,928,185,000 after buying an additional 204,412 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in Meta Platforms by 9.1% in the third quarter. SOA Wealth Advisors LLC. now owns 3,219 shares of the social networking company’s stock valued at $1,842,000 after purchasing an additional 269 shares during the last quarter. Aldebaran Financial Inc. boosted its stake in shares of Meta Platforms by 10.2% during the 3rd quarter. Aldebaran Financial Inc. now owns 2,853 shares of the social networking company’s stock valued at $1,633,000 after buying an additional 264 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd grew its holdings in Meta Platforms by 9.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 17,048 shares of the social networking company’s stock worth $9,704,000 after acquiring an additional 1,480 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Meta Platforms stock opened at $520.79 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm’s fifty day moving average price is $594.44 and its 200-day moving average price is $605.11. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The stock has a market cap of $1.32 trillion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $5.33 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio is 8.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group dropped their price target on Meta Platforms from $786.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Oppenheimer boosted their price target on Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets boosted their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Wedbush cut their price target on shares of Meta Platforms from $770.00 to $680.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Guggenheim reduced their price objective on Meta Platforms from $750.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.55.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Friday, January 24th. The stock was sold at an average price of $644.76, for a total transaction of $23,160,423.96. The disclosure for this sale can be found here. Insiders sold a total of 343,068 shares of company stock worth $237,676,335 in the last three months. 13.71% of the stock is owned by corporate 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.