L.M. Kohn & Company has significantly reduced its stake in Meta Platforms, Inc. (NASDAQ: META), selling approximately 84.3% of its shares during the third quarter of 2023. According to the company’s filing with the Securities and Exchange Commission, L.M. Kohn now holds 434 shares after divesting 2,330 shares, with a total value of around $319,000.
The shift in L.M. Kohn’s investment strategy comes as other institutional investors are adjusting their positions in Meta. For instance, Brighton Jones LLC increased its stake by 1.7% in the fourth quarter, now owning 34,551 shares valued at $20.23 million. Similarly, Revolve Wealth Partners LLC has expanded its investment by 10.2%, bringing their total to 9,456 shares with a value of $5.54 million.
Headwater Capital Co Ltd made a notable move by increasing its holdings by 294.7%, acquiring 150,000 shares valued at approximately $86.45 million. Additionally, Dymon Asia Capital Singapore and Capital & Planning LLC purchased new stakes worth $213,000 and $322,000, respectively. Institutional investors now hold 79.91% of Meta’s stock.
Recent Stock Performance and Financial Highlights
As of Monday, shares of Meta opened at $661.46. The company’s financial metrics reflect a solid position with 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’s stock has fluctuated significantly, with a 52-week low of $479.80 and a high of $796.25.
In its latest earnings report, released on January 28, 2024, Meta reported earnings per share of $8.88, surpassing analyst expectations of $8.16 by $0.72. The company achieved a net margin of 30.08% and a return on equity of 38.61%, with total revenue reaching $59.89 billion, exceeding the expected $58.33 billion. This represents a 23.8% increase from the same quarter in the previous year.
Dividends and Insider Transactions
Meta Platforms also declared a quarterly dividend of $0.525 per share, which was paid on December 23, 2023, to shareholders of record as of December 15. This translates to an annualized dividend of $2.10 and a yield of 0.3%. The company maintains a payout ratio of 8.94%.
In related insider activity, Director Robert M. Kimmitt sold 580 shares on January 15 at an average price of $618.28, totaling approximately $358,602.40. This sale reduced his holdings to 5,587 shares, valued at around $3.45 million. Similarly, insider Jennifer Newstead sold 519 shares on December 30 at an average price of $658.69, totaling $341,860.11. Over the past ninety days, insiders have sold a total of 38,561 shares worth approximately $23.67 million, and corporate insiders currently own 13.61% of the stock.
Market analysts continue to weigh in on Meta’s stock, with Citizens JMP reaffirming an “outperform” rating and adjusting their price target to $900.00. Other analysts, including those from Arete Research and Raymond James Financial, have set targets ranging from $718.00 to $800.00. Currently, the consensus rating among analysts is “Moderate Buy,” with an average price target of $847.40.
The mixed sentiment from institutional investors highlights a complex landscape for Meta Platforms, as some funds are trimming their stakes while others are increasing their investments. As the company navigates potential headwinds related to market pressures and regulatory scrutiny, its ability to sustain growth will be closely monitored by investors and analysts alike.
