Kingsview Wealth Management LLC Acquires 257 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kingsview Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,023 shares of the social networking company’s stock after purchasing an additional 257 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Meta Platforms were worth $24,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of META. AMF Tjanstepension AB boosted its position in Meta Platforms by 32.5% during the 3rd quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after acquiring an additional 112,047 shares in the last quarter. Creative Planning boosted its position in Meta Platforms by 2.1% during the 3rd quarter. Creative Planning now owns 716,847 shares of the social networking company’s stock valued at $410,352,000 after acquiring an additional 14,754 shares in the last quarter. Stillwater Capital Advisors LLC bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $423,000. Roberts Wealth Advisors LLC boosted its position in Meta Platforms by 15.2% during the 3rd quarter. Roberts Wealth Advisors LLC now owns 703 shares of the social networking company’s stock valued at $417,000 after acquiring an additional 93 shares in the last quarter. Finally, Safeguard Financial LLC boosted its position in Meta Platforms by 51.9% during the 3rd quarter. Safeguard Financial LLC now owns 673 shares of the social networking company’s stock valued at $385,000 after acquiring an additional 230 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James reaffirmed a “strong-buy” rating and set a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Finally, Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a report on Thursday, January 30th. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $717.90.

Insider Buying and Selling

In related news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 793,070 shares of company stock valued at $504,185,108. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $728.56 on Friday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $729.00. The firm has a fifty day moving average price of $636.47 and a 200-day moving average price of $580.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 quarter in the prior year, the business posted $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The company 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 $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.36%.

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.