Klingman & Associates LLC Has $1.92 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Klingman & Associates LLC grew its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,950 shares of the social networking company’s stock after purchasing an additional 102 shares during the period. Klingman & Associates LLC’s holdings in Meta Platforms were worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Oak Ridge Investments LLC increased its position in shares of Meta Platforms by 4.1% during the first quarter. Oak Ridge Investments LLC now owns 68,215 shares of the social networking company’s stock worth $33,124,000 after acquiring an additional 2,712 shares in the last quarter. Ascent Wealth Partners LLC acquired a new stake in shares of Meta Platforms in the 1st quarter valued at about $4,149,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Meta Platforms by 17.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,564,770 shares of the social networking company’s stock valued at $1,245,401,000 after purchasing an additional 385,800 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its position in shares of Meta Platforms by 31.5% during the first quarter. BOK Financial Private Wealth Inc. now owns 584 shares of the social networking company’s stock worth $284,000 after buying an additional 140 shares during the period. Finally, Baillie Gifford & Co. raised its position in Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on META shares. UBS Group decreased their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein cut their price target on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Guggenheim decreased their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Roth Mkm increased their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Wedbush lowered their price target on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $511.27.

Read Our Latest Stock Report on META

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders sold a total of 251,905 shares of company stock worth $123,528,726 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $29.95 during trading on Friday, reaching $539.91. 21,354,093 shares of the company traded hands, compared to its average volume of 10,314,925. The firm has a market capitalization of $1.37 trillion, a PE ratio of 31.01, a PEG ratio of 1.40 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $540.87. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $484.36 and its two-hundred day moving average is $460.90.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Meta Platforms Company Profile

(Free Report)

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

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