PFG Investments LLC Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

PFG Investments LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,100 shares of the social networking company’s stock after purchasing an additional 3,495 shares during the quarter. Meta Platforms makes up approximately 1.7% of PFG Investments LLC’s holdings, making the stock its 6th biggest holding. PFG Investments LLC’s holdings in Meta Platforms were worth $25,817,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Roberts Wealth Advisors LLC bought a new stake in shares of Meta Platforms during the first quarter worth $308,000. LVW Advisors LLC grew its holdings in Meta Platforms by 13.2% during the 1st quarter. LVW Advisors LLC now owns 7,164 shares of the social networking company’s stock worth $3,479,000 after acquiring an additional 834 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Meta Platforms in the 1st quarter valued at about $234,000. Pettinga Financial Advisors LLC bought a new position in shares of Meta Platforms in the first quarter worth about $249,000. Finally, Chapin Davis Inc. lifted its position in shares of Meta Platforms by 23.7% during the first quarter. Chapin Davis Inc. now owns 10,918 shares of the social networking company’s stock worth $5,302,000 after purchasing an additional 2,091 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 84 shares of Meta Platforms stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares in the company, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 251,230 shares of company stock worth $132,784,843 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Jefferies Financial Group upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.63.

Meta Platforms Stock Up 2.6 %

Meta Platforms stock opened at $593.28 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1-year low of $296.86 and a 1-year high of $602.95. The company has a fifty day simple moving average of $553.36 and a 200 day simple moving average of $511.61. The company has a market cap of $1.50 trillion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 21.44 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.