Kirtland Hills Capital Management LLC Buys 286 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kirtland Hills Capital Management LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,433 shares of the social networking company’s stock after acquiring an additional 286 shares during the period. Meta Platforms comprises 1.2% of Kirtland Hills Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Kirtland Hills Capital Management LLC’s holdings in Meta Platforms were worth $2,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter worth approximately $46,000. West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Finally, NewSquare Capital LLC lifted its position in Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock valued at $52,000 after purchasing an additional 71 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

META stock opened at $559.14 on Friday. The stock has a market capitalization of $1.41 trillion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The stock’s 50 day simple moving average is $572.74 and its 200 day simple moving average is $523.96. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 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 analysts’ expectations of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. BMO Capital Markets upped their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Scotiabank decreased their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer increased their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the sale, the chief operating officer now owns 19,992 shares of the company’s stock, valued at $11,135,544. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the sale, the chief executive officer now owns 518,508 shares of the company’s stock, valued at approximately $311,493,681. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,843 shares of company stock valued at $92,083,554. Company insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.