Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,148 shares of the social networking company’s stock after purchasing an additional 715 shares during the quarter. Meta Platforms makes up about 1.9% of Kirtland Hills Capital Management LLC’s holdings, making the stock its 9th largest position. Kirtland Hills Capital Management LLC’s holdings in Meta Platforms were worth $3,014,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. NCP Inc. grew its holdings in shares of Meta Platforms by 4.0% during the fourth quarter. NCP Inc. now owns 128,321 shares of the social networking company’s stock worth $75,133,000 after purchasing an additional 4,893 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the fourth quarter worth about $1,649,000. ARK Investment Management LLC grew its holdings in shares of Meta Platforms by 16.7% during the fourth quarter. ARK Investment Management LLC now owns 464,394 shares of the social networking company’s stock worth $271,907,000 after purchasing an additional 66,473 shares during the last quarter. Cavalier Investments LLC grew its holdings in shares of Meta Platforms by 3.7% during the fourth quarter. Cavalier Investments LLC now owns 1,345 shares of the social networking company’s stock worth $788,000 after purchasing an additional 48 shares during the last quarter. Finally, LGL Partners LLC grew its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. LGL Partners LLC now owns 2,834 shares of the social networking company’s stock worth $1,659,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 902 shares of Meta Platforms stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the transaction, the insider now owns 27,488 shares in the company, valued at $19,607,740.16. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 796,712 shares of company stock worth $517,503,564. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 2.0 %

Shares of META opened at $655.05 on Tuesday. The firm has a market cap of $1.66 trillion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The company’s fifty day moving average is $654.28 and its two-hundred day moving average is $597.91. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the firm posted $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a dividend of $0.525 per share. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. Meta Platforms’s payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on META. Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada increased their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Pivotal Research increased their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Oppenheimer increased their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $719.26.

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.