Kingsview Wealth Management LLC Has $23.91 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Kingsview Wealth Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,766 shares of the social networking company’s stock after buying an additional 2,588 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Meta Platforms were worth $23,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Lindenwold Advisors INC lifted its stake in shares of Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Central Valley Advisors LLC raised its stake in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares in the last quarter. Cherrydale Wealth Management LLC boosted its holdings in Meta Platforms by 0.5% in the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC grew its position in shares of Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. grew its position in Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after buying an additional 18 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 1,131 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $652,767.96. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $709,329.64. The trade was a 47.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 three months, insiders have sold 152,141 shares of company stock valued at $83,390,497. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on shares of Meta Platforms from $570.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets raised their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Finally, JMP Securities raised their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Trading Down 0.7 %

Shares of META opened at $559.14 on Monday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company’s fifty day simple moving average is $572.74 and its 200-day simple moving average is $524.71. The company has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. 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 issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

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

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.