Krilogy Financial LLC Buys 2,918 Shares of Meta Platforms, Inc. $META

Krilogy Financial LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 14.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,788 shares of the social networking company’s stock after buying an additional 2,918 shares during the period. Krilogy Financial LLC’s holdings in Meta Platforms were worth $17,469,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in META. Norges Bank purchased a new stake in shares of Meta Platforms in the second quarter worth about $23,155,393,000. Laurel Wealth Advisors LLC increased its holdings in Meta Platforms by 73,443.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after acquiring an additional 8,405,558 shares during the period. State Street Corp lifted its stake in Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock worth $64,158,971,000 after purchasing an additional 1,650,435 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Meta Platforms by 103.5% during the 2nd quarter. Corient Private Wealth LLC now owns 1,998,624 shares of the social networking company’s stock valued at $1,475,166,000 after purchasing an additional 1,016,667 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.6%

Shares of META opened at $643.22 on Thursday. The stock has a market capitalization of $1.63 trillion, a P/E ratio of 27.37, a PEG ratio of 1.09 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $656.60 and a two-hundred day simple moving average of $691.28.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.16 by $0.72. The firm had revenue of $59.89 billion for the quarter, compared to analysts’ expectations of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The business’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.02 earnings per share. On average, research analysts anticipate 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 will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.94%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 629 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $639.18, for a total value of $402,044.22. Following the sale, the chief operating officer directly owned 2,942 shares of the company’s stock, valued at $1,880,467.56. The trade was a 17.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 6,418 shares of the business’s stock in a transaction on Sunday, February 15th. The stock was sold at an average price of $639.77, for a total value of $4,106,043.86. Following the completion of the sale, the chief financial officer directly owned 73,346 shares in the company, valued at $46,924,570.42. This trade represents a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,158 shares of company stock valued at $12,992,197 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on META shares. Truist Financial lifted their price target on Meta Platforms from $875.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Oppenheimer downgraded shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 30th. Wolfe Research reissued an “outperform” rating and issued a $850.00 price target (up previously from $800.00) on shares of Meta Platforms in a research note on Thursday, January 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $900.00 price target (up previously from $870.00) on shares of Meta Platforms in a report on Thursday, January 29th. Finally, Raymond James Financial dropped their price objective on shares of Meta Platforms from $825.00 to $800.00 and set a “strong-buy” rating for the company in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $844.29.

View Our Latest Stock Report on Meta Platforms

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Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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