Davidson Kahn Capital Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,497 shares of the social networking company’s stock after acquiring an additional 737 shares during the quarter. Meta Platforms accounts for 2.4% of Davidson Kahn Capital Management LLC’s holdings, making the stock its 12th largest holding. Davidson Kahn Capital Management LLC’s holdings in Meta Platforms were worth $3,169,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Valley Financial Group Inc. increased its stake in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Maiden Cove Capital LLC increased its holdings in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares during the last quarter. Riverwater Partners LLC increased its holdings in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after acquiring an additional 15 shares during the last quarter. Finally, ABLE Financial Group LLC increased its holdings in Meta Platforms by 0.7% in the 4th quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock valued at $1,251,000 after acquiring an additional 15 shares during the last quarter. 79.91% of the stock is owned by institutional investors.
Meta Platforms Price Performance
Shares of META opened at $726.09 on Friday. The company has a 50 day moving average price of $633.87 and a 200-day moving average price of $625.73. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The stock has a market capitalization of $1.83 trillion, a PE ratio of 28.32, a PEG ratio of 1.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.
Meta Platforms Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $570.66, for a total transaction of $525,577.86. Following the completion of the transaction, the insider now owns 30,261 shares in the company, valued at $17,268,742.26. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company’s stock, valued at approximately $3,507,676.90. This trade represents a 8.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,831 shares of company stock worth $83,868,872 in the last 90 days. 13.61% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on META. Roth Capital lifted their price target on shares of Meta Platforms from $580.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $740.00 price target on shares of Meta Platforms in a report on Thursday, May 1st. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Guggenheim lifted their price target on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $715.76.
View Our Latest Stock Analysis on META
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.
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