KCM Investment Advisors LLC Sells 101 Shares of Meta Platforms, Inc. (NASDAQ:META)

KCM Investment Advisors LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,751 shares of the social networking company’s stock after selling 101 shares during the quarter. KCM Investment Advisors LLC’s holdings in Meta Platforms were worth $3,865,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Central Valley Advisors LLC grew its holdings in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC lifted its position in Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the last quarter. Alliance Wealth Advisors LLC grew its stake in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares in the last quarter. Kozak & Associates Inc. increased its holdings in shares of Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Meta Platforms by 0.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after buying an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The trade was a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total transaction of $8,876,444.92. Following the sale, the chief executive officer now directly owns 11,384 shares of the company’s stock, valued at $6,050,140.64. This represents a 59.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,593 shares of company stock valued at $75,253,970 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on META shares. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Mizuho increased their price objective on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Roth Mkm upped their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Meta Platforms Stock Up 0.1 %

NASDAQ:META opened at $554.40 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.11, a P/E/G ratio of 1.23 and a beta of 1.22. The company’s 50-day simple moving average is $569.10 and its 200-day simple moving average is $521.96. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 9.42%.

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.