KCM Investment Advisors LLC buys 131 shares of Meta Platforms, Inc. (NASDAQ:META)

KCM Investment Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.9% during the 2nd quarter, Holdings Channel reports. The fund owned 6,852 shares of the social networking company’s stock after acquiring an additional 131 shares during the quarter. KCM Investment Advisors LLC’s holdings in Meta Platforms were worth $3,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vantage Financial Partners LLC boosted its holdings in Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Meta Platforms by 1.7% during the 4th quarter. First Horizon Advisors Inc. now owns 11,058 shares of the social networking company’s stock valued at $3,914,000 after acquiring an additional 183 shares in the last quarter. Concentrum Wealth Management grew its position in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC increased its position in shares of Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after acquiring an additional 722 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Meta Platforms by 31.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 25,676 shares of the social networking company’s stock valued at $9,088,000 after acquiring an additional 6,217 shares in the last quarter. 79.91% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

A number of analysts have recently commented on META shares. Raymond James boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday, July 1st. Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Guggenheim boosted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, 1 August. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $574.41.

Get the latest stock analysis on meta platforms

Performance of meta platform stocks

Shares of NASDAQ:META opened at $521.31 on Friday. The company’s 50-day simple moving average is $504.85, and its 200-day simple moving average is $492.74. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83, and a quick ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

Meta Platforms (NASDAQ:META – Get Free Report ) last posted its earnings results on Wednesday, July 31st. The social media company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. In the same quarter last year, the business posted earnings of $3.23 per share. The company’s quarterly revenue was up 22.1% year over year. As a group, research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Insider buying and selling on meta platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total value of $431,685.00. Following the sale, the insider now owns 41,465 shares in the company, valued at $19,778,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In related news, Director Peggy Alford sold 1,052 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total value of $503,908.00. Following the transaction, the director now owns 6,168 shares in the company, valued at $2,954,472. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the transaction, the insider now owns 41,465 shares in the company, valued at approximately $19,778,805. The disclosure for this sale can be found here. Insiders sold 388,078 shares of company stock worth $200,792,168 in the last quarter. Corporate insiders own 13.71% of the company’s shares.

Meta Platforms Company Profile

(Free report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.

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