KRS Capital Management LLC Has $3.44 Million Position in Meta Platforms, Inc. (NASDAQ:META)

KRS Capital Management LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,871 shares of the social networking company’s stock after selling 20 shares during the quarter. Meta Platforms accounts for about 2.4% of KRS Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. KRS Capital Management LLC’s holdings in Meta Platforms were worth $3,438,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter worth about $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the 3rd quarter worth approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $574.16, for a total value of $237,128.08. Following the sale, the chief operating officer now owns 10,707 shares in the company, valued at $6,147,531.12. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This represents a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock worth $301,408,499 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.2 %

Shares of NASDAQ:META opened at $612.77 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $370.95 and a 12-month high of $638.40. The business has a 50 day moving average of $596.78 and a two-hundred day moving average of $557.04. The company has a market capitalization of $1.55 trillion, a PE ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on META. Barclays boosted their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup upped their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial lifted their target price on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Bank of America raised their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $650.05.

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.