Keudell Morrison Wealth Management Has $1.54 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Keudell Morrison Wealth Management cut its position in Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,173 shares of the social networking company’s stock after selling 138 shares during the period. Keudell Morrison Wealth Management’s holdings in Meta Platforms were worth $1,541,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in META. Norges Bank bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $11,285,855,000. International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after acquiring an additional 4,908,251 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its stake in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on META shares. Barclays lowered their price objective on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. JMP Securities reiterated a “market outperform” rating and set a $550.00 price target on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $515.64.

Meta Platforms Trading Down 0.4 %

Meta Platforms stock traded down $2.14 during trading hours on Monday, hitting $496.73. The company had a trading volume of 7,689,073 shares, compared to its average volume of 16,142,979. The firm has a market cap of $1.26 trillion, a P/E ratio of 28.76, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a 50-day moving average price of $492.56 and a two-hundred day moving average price of $467.54.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.21 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the transaction, the insider now owns 37,813 shares in the company, valued at approximately $18,853,183.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $501.18, for a total value of $245,578.20. Following the sale, the chief operating officer now directly owns 7,089 shares of the company’s stock, valued at approximately $3,552,865.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total transaction of $291,675.15. Following the completion of the sale, the insider now directly owns 37,813 shares in the company, valued at $18,853,183.67. The disclosure for this sale can be found here. Insiders sold a total of 294,278 shares of company stock worth $146,060,559 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

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.