Kirtland Hills Capital Management LLC Has $2.54 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Kirtland Hills Capital Management LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,433 shares of the social networking company’s stock after purchasing an additional 286 shares during the period. Meta Platforms makes up about 1.2% of Kirtland Hills Capital Management LLC’s portfolio, making the stock its 13th biggest position. Kirtland Hills Capital Management LLC’s holdings in Meta Platforms were worth $2,537,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of META. China Universal Asset Management Co. Ltd. grew its stake in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after buying an additional 16,138 shares during the last quarter. Cypress Asset Management Inc. TX boosted its holdings in shares of Meta Platforms by 541.8% during the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares in the last quarter. Hyperion Capital Advisors LP grew its position in Meta Platforms by 3.5% during the 1st quarter. Hyperion Capital Advisors LP now owns 29,527 shares of the social networking company’s stock worth $14,338,000 after acquiring an additional 1,000 shares during the last quarter. Steel Grove Capital Advisors LLC increased its holdings in Meta Platforms by 68.7% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 1,711 shares of the social networking company’s stock worth $831,000 after purchasing an additional 697 shares in the last quarter. Finally, Beck Capital Management LLC raised its position in Meta Platforms by 3.1% in the first quarter. Beck Capital Management LLC now owns 26,390 shares of the social networking company’s stock valued at $12,814,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $559.14 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50-day moving average of $572.74 and a 200-day moving average of $523.96. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The company has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion for 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%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 620 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the transaction, the chief operating officer now owns 19,992 shares in the company, valued at $11,135,544. This trade represents a 3.01 % 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, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,843 shares of company stock worth $92,083,554. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several research reports. Oppenheimer boosted their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. BMO Capital Markets boosted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $640.00 to $660.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two investment 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 given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $634.10.

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.