Keystone Financial Services Sells 179 Shares of Meta Platforms, Inc. (NASDAQ:META)

Keystone Financial Services lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,502 shares of the social networking company’s stock after selling 179 shares during the period. Meta Platforms comprises approximately 0.8% of Keystone Financial Services’ holdings, making the stock its 20th largest position. Keystone Financial Services’ holdings in Meta Platforms were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC boosted its holdings in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. MBM Wealth Consultants LLC bought a new position in shares of Meta Platforms during the 4th quarter valued at about $26,000. Stephens Investment Management Group LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $30,000. Beaird Harris Wealth Management LLC boosted its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. Finally, PayPay Securities Corp raised its position in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $373.58, for a total transaction of $211,446.28. Following the completion of the sale, the insider now directly owns 35,852 shares of the company’s stock, valued at approximately $13,393,590.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,460,035 shares of company stock valued at $691,937,607. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Stock Down 2.2 %

META stock opened at $511.90 on Friday. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 34.36, a P/E/G ratio of 1.31 and a beta of 1.20. The firm has a 50-day simple moving average of $491.44 and a 200-day simple moving average of $392.56. 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, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49.

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

Meta Platforms Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.39%. Meta Platforms’s dividend payout ratio is presently 13.42%.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Royal Bank of Canada upped their target price on shares of Meta Platforms from $400.00 to $565.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. UBS Group upped their target price on shares of Meta Platforms from $425.00 to $530.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity Group upped their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI upped their target price on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Tigress Financial upped their target price on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research report on Friday, February 9th. One research 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $502.75.

About Meta Platforms

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.