Kavar Capital Partners Group LLC Sells 70 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kavar Capital Partners Group LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,301 shares of the social networking company’s stock after selling 70 shares during the period. Kavar Capital Partners Group LLC’s holdings in Meta Platforms were worth $1,326,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the first quarter worth $25,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms in the fourth quarter worth $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the fourth quarter worth $45,000. Finally, JCIC Asset Management Inc. increased its position in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after purchasing an additional 40 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $733.63 on Friday. The stock’s 50 day moving average is $638.51 and its 200 day moving average is $626.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $1.84 trillion, a P/E ratio of 28.61, a P/E/G ratio of 1.81 and a beta of 1.26. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.71 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, 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 value of $342,322.24. Following the transaction, the chief operating officer now directly owns 6,230 shares of the company’s stock, valued at approximately $3,507,676.90. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares in the company, valued at approximately $17,268,742.26. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,831 shares of company stock valued at $83,868,872. 13.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on META. TD Securities decreased their price target on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on Meta Platforms from $685.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating and issued a $664.00 target price on shares of Meta Platforms in a research report on Tuesday, June 17th. Pivotal Research decreased their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $719.52.

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.