L.M. Kohn & Company has significantly reduced its investment in Meta Platforms, Inc. (NASDAQ: META) by **84.3%** during the third quarter of the fiscal year. According to its latest filing with the **Securities & Exchange Commission**, the investment firm now holds **434 shares** of the social networking giant after divesting **2,330 shares**. As of the recent SEC filing, L.M. Kohn’s remaining shares in Meta are valued at approximately **$319,000**.
Several institutional investors have also adjusted their positions in Meta. For instance, **Brighton Jones LLC** boosted its stake by **1.7%** in the fourth quarter, bringing its total holdings to **34,551 shares**, valued at **$20.23 million** following the purchase of an additional **570 shares**. Similarly, **Revolve Wealth Partners LLC** increased its stake by **10.2%**, acquiring **875 shares** for a total of **9,456 shares**, worth **$5.54 million**.
In a notable move, **Headwater Capital Co Ltd** raised its holdings in Meta by a staggering **294.7%** in the first quarter, now owning **150,000 shares** valued at **$86.45 million**. Additionally, **Dymon Asia Capital Singapore PTE. LTD.** and **Capital & Planning LLC** both established new positions in Meta during the second quarter, valued at around **$213,000** and **$322,000**, respectively.
Institutional investors and hedge funds collectively own **79.91%** of Meta Platforms.
Meta’s Stock Performance and Financial Overview
As of the recent trading session on **January 28, 2024**, shares of Meta opened at **$661.46**. The company boasts a **quick ratio** of **2.60**, a **current ratio** of **2.60**, and a **debt-to-equity ratio** of **0.27**. Over the past year, Meta has experienced a **52-week low** of **$479.80** and a **52-week high** of **$796.25**. The company’s **market capitalization** stands at **$1.67 trillion**, with a **price-to-earnings (P/E) ratio** of **28.15**.
In its latest earnings report, Meta Platforms announced earnings of **$8.88** per share for the quarter, surpassing the consensus estimate of **$8.16** by **$0.72**. The firm recorded a net revenue of **$59.89 billion**, exceeding analyst expectations of **$58.33 billion**, and showing a year-over-year revenue increase of **23.8%**. Analysts forecast that Meta will deliver **$26.70** earnings per share for the current fiscal year.
Dividends and Insider Trading Activity
Recently, Meta Platforms declared a quarterly dividend of **$0.525** per share, distributed on **December 23rd** to shareholders on record as of **December 15th**. This results in an annualized dividend of **$2.10**, translating to a **0.3% yield**. The company’s current payout ratio is approximately **8.94%**.
In insider trading activities, **Robert M. Kimmitt**, a director at Meta, sold **580 shares** on **January 15th** at an average price of **$618.28**, totaling **$358,602.40**. After the sale, Kimmitt retains **5,587 shares**, worth around **$3.45 million**. Additionally, **Jennifer Newstead**, another insider, sold **519 shares** on **December 30th** at an average price of **$658.69**, resulting in a transaction value of **$341,860.11**. Over the last ninety days, insiders have sold **38,561 shares** of Meta stock, totaling approximately **$23.67 million**.
Currently, corporate insiders own **13.61%** of Meta’s shares.
Analyst Ratings and Market Sentiment
Several analysts have recently commented on Meta’s stock, with **Citizens JMP** reaffirming an “outperform” rating and raising its price target to **$900.00**, up from **$750.00**. **Arete Research** has set a target of **$718.00**, while **Raymond James Financial** decreased its target from **$825.00** to **$800.00**, maintaining a “strong-buy” rating.
In a more optimistic outlook, **Monness Crespi & Hardt** raised their price objective from **$808.00** to **$890.00**. Meanwhile, **Mizuho** increased their target from **$815.00** to **$850.00**, also assigning an “outperform” rating. Overall, **four analysts** rate the stock as a Strong Buy, **forty** as Buy, and **seven** as Hold. According to data from **MarketBeat**, Meta currently has a consensus rating of “Moderate Buy” with an average price target of **$847.40**.
As the market continues to evaluate Meta’s performance and strategic direction, the recent adjustments by institutional investors and insider trading activities add layers of complexity to the company’s financial narrative.
