KRS Capital Management LLC Has $2.99 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

KRS Capital Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,156 shares of the social networking company’s stock after selling 110 shares during the period. Meta Platforms comprises 2.4% of KRS Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. KRS Capital Management LLC’s holdings in Meta Platforms were worth $2,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the last quarter. Capital World Investors boosted its stake in shares of Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares during the last quarter. Morgan Stanley increased its position in shares of Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after buying an additional 1,184,978 shares during the period. Capital International Investors raised its stake in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares during the last quarter. Finally, Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at $11,285,855,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now directly owns 38,750 shares in the company, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,512 shares of company stock worth $113,597,536. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $504.22 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $480.00 and its 200 day simple moving average is $453.93. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.35 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results 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 return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.16 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Loop Capital lowered their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. BNP Paribas initiated coverage on Meta Platforms in a report on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Rosenblatt Securities increased their price target on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Barclays cut their target price on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have assigned 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 $510.05.

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.