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

KRS Capital Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,156 shares of the social networking company’s stock after selling 110 shares during the quarter. Meta Platforms comprises 2.4% of KRS Capital Management LLC’s portfolio, making the stock its 6th biggest holding. KRS Capital Management LLC’s holdings in Meta Platforms were worth $2,989,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. 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 valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Capital World Investors grew its stake in Meta Platforms by 2.5% during the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after acquiring an additional 927,491 shares in the last quarter. Morgan Stanley increased its holdings in Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after acquiring an additional 1,184,978 shares during the last quarter. Capital International Investors lifted its stake in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Finally, Norges Bank purchased a new stake in Meta Platforms in the 4th quarter worth $11,285,855,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mark Zuckerberg sold 31,465 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total value of $15,464,732.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 233,512 shares of company stock valued at $113,597,536 over the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 3.0 %

Shares of META opened at $504.22 on Friday. The stock has a 50 day moving average price of $480.00 and a 200 day moving average price of $453.93. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $531.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization 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 released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on META shares. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a report on Monday, April 22nd. Jefferies Financial Group reduced their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada lowered their target price on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wolfe Research decreased their price target on shares of Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.