Kingsview Wealth Management LLC Increases Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Kingsview Wealth Management LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 42,023 shares of the social networking company’s stock after buying an additional 257 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Meta Platforms were worth $24,605,000 at the end of the most recent reporting period.

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

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total transaction of $8,162,353.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 793,070 shares of company stock worth $504,185,108. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $728.56 on Friday. The firm’s fifty day simple moving average is $636.47 and its two-hundred day simple moving average is $580.80. 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, Inc. has a 12-month low of $414.50 and a 12-month high of $729.00. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 30.46, a P/E/G ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released 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 net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the company earned $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.66 EPS 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 paid a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s payout ratio is presently 8.36%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Susquehanna upped their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Wolfe Research raised their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Bank of America raised their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $717.90.

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.